Having tied the Gordian knot that has set the ball rolling and has ensured the functioning of bank in Greece, Alexis Tsipras, has now contained a rebellion in his own left-wing party, and has ensured that the Greek parliament approves a second round of reforms so that the European Union can continue with its financial rescue package.
The first set of reforms that focused mostly on budgetary discipline and tax hikes triggered a foreseen reaction from members of the ruling Syriza party. The first set of reforms went through thanks to the votes of the pro-EU parties.
The second set of reforms, which sailed through the rough waters of Greek’s parliament was for dealing with failed banks and for speeding up the justice system. The legislation sailed through with a 230 votes in a 300 seat chamber. Once again the opposition, the pro-EU parties, played an important role.
A quarter of the ruling party’s deputies either voted against the reform package or abstained. Though, this time their number was significantly less than the previous times.
"We made tough choices, and I personally made difficult, responsible choices. Today we must all redefine the possibilities ahead of us given the new circumstances. "We chose a difficult compromise to avert the most extreme plans by the most extreme circles in Europe," said Tsipras in an appeal to parliament to back the reforms.
Although, initially, Tsipras had publicly said he disagrees with measures demanded by Greece’s creditors which were a precondition before they acted to save Greece from its financial mess, however during talks, at the 11th hour, he made a sharp U-turn and accepted the deal to save the country from the chaos of bankruptcy and to keep Greece within the European Union.
Hardliners in the Syriza party though opposed the deal and objected to the length of the bill which covered more than 900 pages. Last week’s rebellion though has taken a toll on Tsipras’s party. The rebellion has cut his support to 123 votes resulting in the likelihood of an election happening sometime either in September or in October, this year.
"We might go to elections, when this is needed," said Olga Gerovasili, a government spokeswoman in a radio address. She went on to add that elections at this juncture would not be helpful to the country since it first needs to deal with the new bailout. "We are trying to bring the situation back to some sort of normality," she said. But hinted that once that is done, elections are very much a possibility.
Pierre Moscovici, the European Economic and Monetary Affairs Commissioner said in Brussels that he was confident that the Greek parliament would adopt and pass the bill. Greek’s creditors are looking forward to concluding the talks with Greece on its third bailout package by mid-August.
References:
http://www.reuters.com/article/2015/07/23/us-eurozone-greece-idUSKCN0PW0GI20150723
The first set of reforms that focused mostly on budgetary discipline and tax hikes triggered a foreseen reaction from members of the ruling Syriza party. The first set of reforms went through thanks to the votes of the pro-EU parties.
The second set of reforms, which sailed through the rough waters of Greek’s parliament was for dealing with failed banks and for speeding up the justice system. The legislation sailed through with a 230 votes in a 300 seat chamber. Once again the opposition, the pro-EU parties, played an important role.
A quarter of the ruling party’s deputies either voted against the reform package or abstained. Though, this time their number was significantly less than the previous times.
"We made tough choices, and I personally made difficult, responsible choices. Today we must all redefine the possibilities ahead of us given the new circumstances. "We chose a difficult compromise to avert the most extreme plans by the most extreme circles in Europe," said Tsipras in an appeal to parliament to back the reforms.
Although, initially, Tsipras had publicly said he disagrees with measures demanded by Greece’s creditors which were a precondition before they acted to save Greece from its financial mess, however during talks, at the 11th hour, he made a sharp U-turn and accepted the deal to save the country from the chaos of bankruptcy and to keep Greece within the European Union.
Hardliners in the Syriza party though opposed the deal and objected to the length of the bill which covered more than 900 pages. Last week’s rebellion though has taken a toll on Tsipras’s party. The rebellion has cut his support to 123 votes resulting in the likelihood of an election happening sometime either in September or in October, this year.
"We might go to elections, when this is needed," said Olga Gerovasili, a government spokeswoman in a radio address. She went on to add that elections at this juncture would not be helpful to the country since it first needs to deal with the new bailout. "We are trying to bring the situation back to some sort of normality," she said. But hinted that once that is done, elections are very much a possibility.
Pierre Moscovici, the European Economic and Monetary Affairs Commissioner said in Brussels that he was confident that the Greek parliament would adopt and pass the bill. Greek’s creditors are looking forward to concluding the talks with Greece on its third bailout package by mid-August.
References:
http://www.reuters.com/article/2015/07/23/us-eurozone-greece-idUSKCN0PW0GI20150723
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