Greek Govt Approves Bill to get Bailout from EU

By | July 11, 2015

The Greek parliament has approved the proposal Alexis Tsipras submitted to creditors on Thursday. The ball is now in Europe’s court with a Eurogroup meeting scheduled for Saturday.

  • GREEK LAWMAKERS APPROVE GOVERNMENT’S BAILOUT PROPOSAL: TALLY

 

As expected, Energy Minister and Left Platform leader Panagiotis Lafazanis voted against the proposal as did Parliament speaker Zoi Konstantopoulou and Deputy Minister of Social Security Dimitris Stratoulis.

If new FinMin Euclid Tsakalotos can secure the support of his EU counterparts tomorrow, the path will be cleared for Greece to remain in the EU under a new program.

  • GREEK PM TSIPRAS SAYS GOVT AVERTING A POLITICAL GREXIT
  • GREEK PM TSIPRAS SAYS PEOPLE DIDN’T GIVE GOVT RUPTURE MANDATE
  • TSIPRAS: AGREEMENT WITH CREDITORS ISN’T CERTAIN, JUST POSSIBLE
  • CREDITORS MAKE POSITIVE EVALUATION OF GREEK DEBT PROPOSALS: AP
  • TSIPRAS: GREECE WILL MANAGE TO STAY IN EU, AS EQUAL PARTNER
  • GREECE BAILOUT TO BE 74B EUROS BASED ON CREDITORS’ EVAL: AFP

It remains to be seen how Greeks will respond to the decision. Given the similarities between the “new” proposal and the proposal that 61% of Greeks voted against last Sunday, there may well be pushback from voters and a generalized sense of betrayal among Syriza’s core constituency.

3 thoughts on “Greek Govt Approves Bill to get Bailout from EU

  1. Hiren

    I wonder if this is a good news or a bad news ?

    If EU decides to bail out Greece, that means BAU, but that also means that EU will have to fund Greece even more and give some moratorium…..so, to recover bad money, they will still have to spend a lot of money and lot more time.

    If EU doesnt bail out…..then can EU countries arm twist Greece to pay up ? How ? Most likely they will have to write off most of the loans.

    Looks like there isnt going to be any real good news here…just feel good news which market should make out soon.

    Hiren

  2. Vicky

    Monday gap up on bank nifty ??..plz throw some light on it sir..

  3. subhash c mittal

    It should bounce market for a short period.

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