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Greek parliament must vote on Wednesday Euro zone bailout conditions

Wednesday, July 15th 2015 - 06:40 UTC
Full article 6 comments
Tsipras: “I assume responsibility for a text I do not believe in, but which I signed to avoid disaster for the country, the collapse of the banks.” Tsipras: “I assume responsibility for a text I do not believe in, but which I signed to avoid disaster for the country, the collapse of the banks.”
Dijsselbloem said he was “angry” at Tsipras for urging Greek voters to reject a similar package of austerity measures in a referendum. Dijsselbloem said he was “angry” at Tsipras for urging Greek voters to reject a similar package of austerity measures in a referendum.
A number of Syriza MPs are likely to rebel and the junior coalition party, the Independent Greeks, have offered only limited support. A number of Syriza MPs are likely to rebel and the junior coalition party, the Independent Greeks, have offered only limited support.
Tsipras warned banks are unlikely to reopen until the deal, which includes up to €86bn of financing, is ratified, and this could take another month. Tsipras warned banks are unlikely to reopen until the deal, which includes up to €86bn of financing, is ratified, and this could take another month.

Greek Prime Minister Alexis Tsipras says he does not believe in a bailout offered by Euro zone leaders, but is willing to implement it. Tsipras described the deal as “harsh”, but said it was the only way for Greece to remain in the Euro.

 The conditional plan depends on austerity measures being passed through parliament by Wednesday, where Tsipras faces resistance among his own MPs. Despite the growing dissent at home he said he has no plans to resign.

Defending the deal in an interview on state television, he said: “I assume responsibility for all mistakes I may have made, I assume responsibility for a text I do not believe in, but which I signed to avoid disaster for the country, the collapse of the banks.”

He said he had battled not to cut wages and pensions, arguing the terms agreed were milder than those in previous deals. But he also attacked Greece's creditors, saying “they wanted to take revenge”.

Meanwhile Jeroen Dijsselbloem, who chairs the Euro-group of finance ministers from Euro countries - a key figure in the weekend's fraught negotiations - said he was “angry” at Tsipras for urging Greek votes to reject a similar package of austerity measures in a referendum.

“You can't promise things that you can't bring about,” he told Dutch television. Tsipras said the referendum had helped secure a better, more long-term deal.

His interview comes on the eve of the vote in Greece's parliament. The measures, including pensions and VAT reforms, must be passed by Wednesday.

A number of Syriza MPs are likely to rebel and the junior coalition party, the Independent Greeks, have offered only limited support.

Greece also faces an immediate cash-crisis. Banks have been shut since 29 June, and the International Monetary Fund says the country has missed another debt repayment, to go further into arrears.

Tsipras warned banks are unlikely to reopen until the deal, which includes up to €86bn of financing, is ratified, and this could take another month.

Greek laws to be passed by Wednesday: Ratifying Euro zone summit statement; Vat changes: Top rate of 23% to extend to processed food, restaurants etc... 13% to cover fresh food, energy bills, water and hotel stays, 6% for medicines and books; VAT discount of 30% to be abolished on islands, but remotest islands to keep discount until next year; Corporation tax raised from 26-29% for small companies; Luxury tax for big cars, boats and swimming pools up from 10-13%; farmers' tax up from 13-26%; Early retirement to end (phased in by 2022); retirement age raised to 67 and Greek statistics authority Elstat to have full legal independence.

Categories: Economy, Politics, International.

Top Comments

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  • Briton

    Apparently the UK government has been told it may well have to cough up one billion pounds to help with the bail out,

    the government says it wont pay,

    whatever Greece decides to do, someone somewhere has to pay,

    And of course the UK gets to contribute forcibly.

    so the grapevine says.

    Jul 15th, 2015 - 09:51 am 0
  • Usurping Pirate

    Tsipras is Capitanich's long lost twin and I claim my $10 .

    Jul 15th, 2015 - 10:02 am 0
  • ElaineB

    @1 That is not going to happen. Don't believe the Daily Mail.

    @2 Tsipras has some balls. Shame they were removed by Merkel.

    Jul 15th, 2015 - 11:28 am 0
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