Friday, August 14, 2015

Greek Lawmakers Pass Bailout After All-Night Debate

Greek lawmakers have approved a $93-billion bailout package from the European Union, just hours ahead of a meeting by eurozone finance ministers to debate the measure.

In a speech to parliament late in the all-night legislative session ahead of the vote, Greek Prime Minister Alexis Tsipras told lawmakers that the bailout package is a "necessary choice" for the nation, despite unwelcome tax hikes and spending cuts.

The prime minister was forced to rely on support from the opposition party to get the measure passed, despite numerous procedural delays in the debate that began Thursday morning. Tsipras faced strong opposition from his own Syriza party, including a movement by more than 10 left-wing politicians to create an anti-bailout movement.

Eurozone finance ministers are set to meet later Friday to make their own up-or-down vote on the bailout agreement.

The deal was settled this week with international creditors - the European Central Bank, European Commission and International Monetary Fund. It imposes harsh new spending cuts and tax increases in exchange for new loans.

If the Greek parliament approves the bailout package, the 19 eurozone finance ministers meeting Friday are expected to sign off on the deal.

The new funds will enable Athens to make a payment on its debt to the European Central Bank later this month. Greece needs the money by August 20 when it must repay about $3.5 billion in debt to the European Central Bank.

Greece has been in financial turmoil for more than five years and had already received two bailouts when it came dangerously close to defaulting on its debts in June. While Athens managed to eke out a new bailout agreement with the European Union, the deal is forcing the government to impose new austerity measures deeply opposed by Prime Minister Tsipras and many Greek citizens.

Critics say Greek citizens already have endured enough financial constraint. They argue that the austerity measures will further damage Greece's ailing economy.

The government has taken several steps to try to halt the financial crisis, including closing the stock exchange for more than a month, shutting banks for three weeks and instituting limits on the amount of money Greeks could withdraw.
 voanews.com

14/8/15
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4 comments:

  1. Greece's parliament has backed draft terms for a third bailout in five years after talks that lasted through the night and well into the morning...

    The proposed deal involves tax rises and spending cuts in return for a bailout of about €85bn (£61bn, $95bn).

    Prime Minister Alexis Tsipras also survived a significant rebellion within his own Syriza party.

    The terms of the bailout will be discussed by eurozone finance ministers later on Friday.

    The deal received:

    222 votes for
    64 against
    11 abstentions

    But there were 31 "No" votes from Syriza members, and 11 abstentions - the biggest rebellion within Mr Tsipras' party so far. The rebels represented almost a third of all Syriza's MPs.

    Reports in Greece said the prime minister will ask for a confidence vote before parliament in the next week.............http://www.bbc.com/news/world-europe-33925781
    14/8/15

    ReplyDelete
  2. Le Parlement grec a voté, avant 9H00 ce vendredi , le nouveau plan d'aide, que l'on appelle là-bas le mémorandum d'austérité...

    Le Premier Ministre pouvait compter sur les voix de l'opposition, mais Alexis Tsipras a perdu le soutien de toute une frange de son parti. L'issue de ce vote pourrait aussi avoir pour conséquence des élections anticipées.

    Le Parlement grec ne s’est réuni en séance plénière que vers une heure du matin (heure locale). La présidente du Parlement, farouchement opposée au plan, a tenu à respecter toutes les lois procédurières du Parlement.

    Lutte intestines au sein du Parlement

    Zoé Konstantopoulou estimait que pour une grande majorité de Grecs, le Parlement doit débattre et légiférer et non pas obtempérer " aux désirs des créanciers et adopter sans pouvoir l’étudier ce troisième mémorandum d’austérité. "

    D’autant que jeudi après-midi ont été ajoutés, aux quelque 400 pages du texte initial, deux amendements majeurs de 100 pages supplémentaires concernant les retraites. Amendements sur lesquels Zoé Konstantopoulou a demandé au Ministre des Finances de venir expliquer s’ils avaient été inspirés par les Institutions autres que le Gouvernement grec. Elle a souligné que ces deux amendements étaient des lois en soi qui nécessitaient un débat à part. Le tout dans des débats retransmis en direct à la télévision,...............http://www.rtbf.be/info/monde/detail_le-parlement-grec-adopte-le-troisieme-plan-d-aide-grace-a-l-opposition?id=9053643

    ReplyDelete
  3. Athen: Sparpaket nur dank Opposition beschlossen...

    Der heutige Freitag begann für die griechischen Abgeordneten um drei Uhr früh (zwei Uhr MESZ). Grund dafür war die Debatte über die Bedingungen der internationalen Geldgeber für ein drittes Hilfspaket für das gebeutelte Griechenland. Diese zog sich mehr als sechs Stunden lang hin, bis es gegen halb neun zur namentlichen Abstimmung kam. Noch vor dem Ende der namentlichen Abstimmung hatten mehr als die mindestens nötigen 151 der 300 Abgeordneten im Parlament mit "Ja" votiert, wie das griechische Fernsehen berichtete.

    In seiner Syriza-Fraktion gab es zahlreiche Nein-Stimmen: 44 der 162 Abgeordneten der Koalition stehen nicht mehr hinter der Regierung. Das Parlament hat 300 Abgeordnete, die nötige Regierungsmehrheit liegt bei 151 Stimmen. Aus der Koalition von Premier Alexis Tsipras gab es aber nur 118 "Ja"-Stimmen. Damit verfügt die Links-Rechts-Regierung nicht mehr über die für eine Minderheitsregierung nötige Mehrheit von 120 Parlamentariern. Deshalb wolle Tsipras nach dem 20. August die Vertrauensfrage stellen, verlautete aus Regierungskreisen.

    Bis zu diesem Datum, wenn ein EZB-Kredit in Höhe von 3,2 Mrd. Euro fällig wird und bis die erste Tranche der neuen Finanzhilfe ausgezahlt ist, wolle Tsipras aber weiter die Regierung führen...............http://diepresse.com/home/wirtschaft/international/4799263/Athen_Sparpaket-nur-dank-Opposition-beschlossen?_vl_backlink=/home/wirtschaft/international/4659496/index.do&direct=4659496
    14/8/15

    ReplyDelete
  4. EU has made provisions for bridge loans to Greece - document...

    REUTERS: The European Commission has made provisions for a further 6.04 billion euros (US$6.73 billion) in bridge financing for Greece in case the planned third bailout for Athens is not ready as quickly as hoped, according to an EU paper seen by Reuters.

    Around 4.4 billion euros should be used to make debt repayments to the International Monetary Fund (IMF) and the European Central Bank (ECB), while 1.67 billion should be used to exempt non-euro zone countries from liability.

    Euro zone finance ministers are due to meet in Brussels on Friday to discuss a third financial rescue that Greece has negotiated with its creditors.
    (Editing by Louise Ireland)
    - Reuters

    ReplyDelete

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