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GreekReporter.comGreeceUnder Grexit Threat, Greece's Parliament Approves Greek Bailout Deal; More Austerity

Under Grexit Threat, Greece's Parliament Approves Greek Bailout Deal; More Austerity

With the Greek economy in ruins and the Greek banks still closed, the Greek parliament approved the terms of the latest (3rd) Greek bailout deal offered to Geece by its creditors: the European Central Bank (ECB), the European Commission and the International Monetary Fund (IMF).
A majority of 229 Greek parliament members voted yes to a new bill, turning into law the difficult terms of Greece’s 3rd bailout, a prerequisite set by Greece’s creditors.
According to Prime Minister Alexis Tsipras, Greece had no other choice than accepting more austerity, if the country did not want to face a Grexit; an exclusion from the Eurozone and the introduction of a new currency in the country.
Fierce Debate
The Greek Parliament convened on Wednesday evening to discuss the bailout deal Greek Prime Minister Alexis Tsipras agreed to with the country’s international creditors in Brussels on Monday.
The Greek Prime minister urged the Greek parliament to vote the deal, although he called it a bad deal he said that this is the only choice for debt-ridden Greece.
Following intense speeches from lawmakers of the various parties, Tsipras once again spoke of a hard and unequal battle between the people’s right and the economic powers and the ideological and political defferences that exist in Europe and which manifested these past few weeks.

Earlier in the night, Finance Minister, Euclid Tsakalotos, discussed the bailout deal, which he signed, noting that its effects will be judged in the future and will hinge on political developments in Europe.
“Monday was the hardest day of my life. It was decision that I will carry with me for the rest of my life. I do not know if we did the right thing, I know we did not have many options,” he said.
Tsakalotos also talked about what needs to be done from here on and emphasized the need for anti-austerity alliances to form in Europe.
“I just know one thing. If the left cannot attack the old party system then this country has no future,” he said.
Party leaders and spokespersons addressed the parliament,in a session that had supporters as well as opposers of the deal who expressed their dismay with Greece’s government.

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