Greek Prime Minister Antonis Samaras has announced that a deal has been reached with the 'Troika' for a 13.5bn-euro austerity package.

The austerity deal was a necessary step so that Greece can receive the next tranche from its bailout programme with international creditors.

Samaras said that Greek representatives had done everything possible to reach an agreement and that he was satisfied with the progress achieved.

However, he also warned that a chaotic situation could ensue if the measures are not approved by the coalition government. Samaras needs the Athenian parliament to approve the measures and the budget by November 12th, when a crucial meeting of Eurozone finance ministers is to be held.

"We exhausted all possibilities, pressures and time. We achieved important improvements, even at the last moment," Samaras said. "As long as this agreement is approved and the budget voted into approval, Greece will remain in the euro and will find its way out of the crisis."

Samaras insisted that all political forces must support the measures.

The next step is to present the austerity package to parliament. This could take place next week although the budget draft may be presented as early as tomorrow, Greek daily Ekathimerini reports.

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