Greece passes second crucial bailout bill

Greece passes second crucial bailout bill

FPJ BureauUpdated: Friday, May 31, 2019, 11:56 PM IST
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A fire bomb explodes behind riot police during a demonstration in Athens on July 22, 2015. Prime Minister Alexis Tsipras faced a new test of his authority in parliament on July 22, where MPs were to vote on a second batch of reforms to help unlock a bailout for Greece's stricken economy. The embattled premier last week faced a revolt by a fifth of the lawmakers in his radical-left Syriza party over changes to taxes, pensions and labour rules demanded by EU-IMF creditors. AFP PHOTO / ARIS MESSINIS |

Athens : Greece’s parliament  passed legislation on a second batch of reforms needed to help unlock a huge international bailout for the country’s stricken economy.

 The bill passed by a resounding 230 votes out of the 298 members of parliament present, after a marathon debate stretching into the early hours that nonetheless exposed deep divisions in the governing Syriza party.   The legislation covers changes to the civil justice system, a bank deposit protection scheme and measures to shore up the liquidity of Greece’s banks — reforms that had to pass if Athens was to move forward in bailout negotiations with its creditors.

While the new law will come as a relief to Prime Minister Alexis Tsipras — who is negotiating a new bailout worth up to 86 billion euros (USD 93 billion) over three years — it saw him suffer a major rebellion amongst MPs in his leftist Syriza party for the second time in a week.         Thursday’s vote was seen as a key test of Tsipras’ authority.

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