Third Greek bailout deal submitted in parliament

Athens, Aug 12 (IANS) Greece’s third bailout agreement since 2010 was submitted in parliament on Wednesday for ratification in a new race against time to unlock the first tranche of international aid to meet a repayment deadline of August 20.

The draft law tabled in parliament contains the framework of the 85 billon euro deal reached with creditors’ envoys on Tuesday, as well as a series of prior actions the country must adopt in the coming weeks to gradually unlock the next bailout tranches, Xinhua reported.

The new round of painful tax hikes, spending cuts and reforms has evoked mixed reactions from MPs, trade unions, representatives of the business world and media.

The vote at the plenary was scheduled to take place on Thursday night, a few hours before a Euro Group meeting on the deal Friday.

The aim is to secure the green light from the national assemblies of other European countries as well on time so that Athens receives the first disbursement to make a 3-billion euro debt repayment to the European Central Bank on August 20.

Analysts in Athens noted that regardless of the outcome in the Greek parliament this week (it is expected that the deal will be ratified by a wide majority with the support of some opposition parties), the Leftist government will most likely face more hard times ahead.

Leave a Reply

Please enter your comment!

The opinions, views, and thoughts expressed by the readers and those providing comments are theirs alone and do not reflect the opinions of www.mangalorean.com or any employee thereof. www.mangalorean.com is not responsible for the accuracy of any of the information supplied by the readers. Responsibility for the content of comments belongs to the commenter alone.  

We request the readers to refrain from posting defamatory, inflammatory comments and not indulge in personal attacks. However, it is obligatory on the part of www.mangalorean.com to provide the IP address and other details of senders of such comments to the concerned authorities upon their request.

Hence we request all our readers to help us to delete comments that do not follow these guidelines by informing us at  info@mangalorean.com. Lets work together to keep the comments clean and worthful, thereby make a difference in the community.

Please enter your name here