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Omnibus Bill of Bailout Prior Actions Tabled in Greek Parliament

tsipras-alexis-ko-polyn-1070The Greek government is to table in parliament on Monday an omnibus bill containing bailout required prior actions in order to pass the first review and receive a 2-billion-euro loan tranche.
The voting of the bill will take place on Saturday, while more lenders’ representatives will arrive in Athens to monitor the progress of measures agreed on and review state finances.
Greek Prime Minister Alexis Tsipras needs all 145 votes from his SYRIZA party MPs and another 10 from junior coalition partner ANEL in the 300-strong parliament. All other MPs are expected to vote against the austerity measures and reforms the bailout deal requires.
Tsipras expects that the first review will be completed by the end of November so that Greek bank recapitalization will take place before the end of 2015. The prime minister also believes that a successful review will bring lenders to the negotiating table to discuss restructuring the Greek debt.
The passing of the measures will lead to a meeting of the Euro Working Group, which will give the green light for more loans to be disbursed. The Eurogroup on November 9 will then decide what prior actions will be required in the second round of legislation so that Greece receives the remaining 1 billion euros from the initial 16-billion-euro tranche.

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