"Germany, the EU powerhouse, is set to vote on the plan on Friday. However, tough talks to finalise the bailout - expected to take much of the summer - will only begin after that" reports BBC News Wednesday evening.
But whatever your view on the Greek debt crisis-whether you believe it is at least in part their own fault or you feel that the Greeks should be 'helped out'- it is sad to see such turmoil on the streets of Greece and in the country's capital.
Tourism is big business in Greece but economic and currency uncertainty, added to the possibility of violent protests, will not help that industry be successful.
The UK's acting Labour leader Harriet Harman believes "Russian President Vladimir Putin is "waiting in the wings" to bring Greece under his sphere of influence if the country's third bailout plan goes awry."
So there is a lot at stake for many people and many countries.
For the people of Greece there is no end in sight to austerity and financial pain. They will be asked or expected to swallow more tough austerity measures. Some of those measures will bring them into line with policies in other EU countries. Some are to put Greece 'in its place' and make its leaders toe-the-line. Some may even be to undermine the left-wing government elected on an anti-austerity mandate.
The only certainty is this Greek tragedy is far from over.
Midnight from the UK - update
"Greek MPs have approved tough economic measures required to enable an €86bn eurozone bailout deal to go ahead.
The new legislation includes tax rises and an increase in the retirement age."
IMF attacks EU over Greek deal terms