Nigel Farage and Jean-Claude Juncker
Nigel Farage (pictured with Jean-Claude Juncker) has urged the Greek government to leave the euro currency Getty

An unlikely alliance has emerged between Ukip and the Green Party in opposition to Greece's third bailout agreement, a deal Caroline Lucas sensationally described as a "coup".

The scathing comment comes after eurozone leaders agreed to give the struggling state €86bn (£61bn, $95bn) over the next three years in exchange for tough austerity reforms from Alexis Tsipras's administration.

The move comes after the Syriza (Radical Left) government held a national referendum on 5 July over the bailout terms set out by Greece's lenders – the International Monetary Fund (IMF), the Eurogroup and the European Central Bank (ECB).

The country's electorate rejected the bailout conditions, with more than 61% of voters opposing the measure.

The new deal means Greece will not leave the eurozone but the government will have to cut down further on public spending and, among other things, sell off assets worth €50bn.

"The oldest democracy in the world has been subjected to a coup. Over the course of just a few days, the Greek Parliament is being forced to rush through emergency legislation to cut pensions, raise taxes and privatise swathes of the economy – without any time for genuine debate," Lucas said.

The Green Brighton Pavilion MP added: "The forces of darkness – the IMF, the Eurozone and the ECB – are subjecting an already deeply impoverished country to further needless cruelty. National sovereignty has, in effect, been suspended.

"A credible solution to Greece's woes exists: European countries should come together to discuss ways to cancel at least some of the debt. It's been done before – when Germany's debts were cancelled after World War Two – and it should be done again."

Future of Tsipras

Ukip leader Nigel Farage also criticised the terms of the bailout and warned that "Tsipras' position is now at stake".

"If I were a Greek politician I would vote against this deal. If I were a Greek 'no' voter I would be protesting in the streets. Tsipras's position is now at stake. This conditional deal shows that national democracy and membership of the eurozone are incompatible," the Eurosceptic firebrand argued.

The remarks come after Farage urged the Greek prime minister to take his country out of the euro currency during a speech in the European Parliament on 8 July.

"Get back your democracy, get back control of your country, give your people the leadership and the hope that they crave," Farage said in front of fellow MEPs.

"Yes, it'll be tough for the first few months but, with a devalued currency and friends of Greece all over the world, you will recover."

But the new bailout could be stopped as some of the measures need to pass through the Greek parliament by 15 July before being ratified.

Tsipras is expected to face tough opposition on the left of his own party and may need to form a "national unity government" in order to pass the controversial measures, according to think-tanker Vincenzo Scarpetta.

The Open Europe policy analyst told IBTimes UK: "The most likely outcome that I can see is that the measures are passed thanks to a broad national unity coalition in the parliament.

"We have already seen the factions within Syriza and I think the hard-line left fringe will not vote for this deal.

"That will mean that the prime minister does not really have a majority in parliament any more and any scenario would be open, including a cabinet reshuffle, a national unity government or Tsipras resigning and, potentially, new elections."

The Foreign Office, Labour and the Liberal Democrats had not responded to a request for comment at the time publication.

Greek bailout deal: What Greece has agreed to explained in 90 seconds IBTimes UK