Greek Prime Minister Alexis Tsipras has told a committee of key Syriza members that the party is facing a "big dilemma" – to "succumb or go ahead with a compromise we were forced into."
Syriza's central committee held an emergency meeting on Thursday to address a growing rift within the party over whether Greece should accept a third international bailout and more austerity.
Tsipras told the committee, according to Reuters reports, that without a bailout deal, Greece would have had to leave the euro zone and would be "forced into devaluation and returning to the International Monetary Fund (IMF)" for support.
The committee gathering came as Greek officials negotiate the finer details of a third bailout, which will be conditional on deep spending cuts and far-reaching reforms. Delegations from the European Commission, European Central Bank and IMF are currently in Athens to discuss the package.
The talks with creditors come after months of wranglings between Greece and lenders over reforms. Tsipras relented earlier this month to lenders' demands for more austerity in return for a 86 billion euro ($94 billion) bailout, but the details are still under discussion. This came against a backdrop of capital controls on Greek banks, impending bankruptcy and a potential "Grexit."