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



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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.


23 COMMENTS

  1. Syriza, you ‘were’ the hope of the world but no longer… Let us see how the people feel about this come tomorrow. I wish you all the best but the courage of Greece’s government is no more… R.I.P.
    So many of us, non-Greeks, held out so much hope. My heart has sunken to the deepest levels of despair, for all of us… Take good care, hoping for the best for you all.

  2. So Greece is on life support, does not want austerity, can not pay off debt, is selling itself, and wants to grow. The debt part maybe waived in the future but in this moment of time a generation has been lost, and pressure points that have led to this moment in time are still not done.

    A person who is both bald and hairy is a person with serious problems. It is not logical to be both bald and hairy. To be both bald and hairy is to be a cripple.

    There once was a time people did not go to work because of work… not because of people at work.

  3. Golden Dawn MP Ilias Kasidiaris tears up a copy of the Troika creditors proposal and tosses it into the air during his speech in parliament denouncing the Troika loansharks, & traitor Tsipras who betrayed the Greek people after 61% of the Greek electorate had voted NO on July 5 to a Troika memorandum. The video is going viral, search You Tube for: “Κασιδιάρης σκίζει το τρίτο Μνημόνιο” Kasidiaris tears up the document 3 minutes, 29 seconds into the video.

    Speaking as he tore up the “despicable document”, Ilias Kasidiaris said: “They [international creditors] are not going to get anything from Greece and those despicable memoranda to which the Greek people said no will send you [SYRIZA] and your policy to the rubbish bin of Greek history.”

  4. Tsipras lambasted the previous government for agreeing to austerity and said he would never agree to more – if he had ANY integrity he would resign, why doesn’t he? why is he such a hypocrite?

  5. Greece has just sold its soul – all for a euro, just like Justin Smith sold out his name for a gold medallion.

  6. Tsipras’s partner said she would leave him and hasn’t. Maybe they’re a household of pathological liars.

  7. After so many years and different leaders, Greeks should finally realise not to put their faith and trust in politicians because it doesn’t matter which side of politics they come from, left or right, red or blue, they only have one invested interest and that is themselves, as Tsipras has proven. He accepted a dead deal and has basically handed Greece to the EuroGang. There was no democratic process in that because he went against the people of Greece. He is employed to serve in the best interest of Greece which he hasn’t. In response he continually comes up with he had no other option. Yes he did have another option, OXI. Remember that word Mr Tsipras or have you forgotten.
    I pray you rot in hell you lowlife!!!

  8. The last 50 billion dollar asset sale resulted in the sale of 3 billion of assets in 5 years. Good luck

  9. Tsakolos: “If the left cannot attack the old party system then the country has no future”

    Alithea ?! Really ? Really ?

    Tsipras and Syriza rolled over like a cowardly dog to Merkel and Co. They have no more respectability. Nea Dimokratica…could have negotiated a better deal than this, without forcing bank closures and antagonizing the Lords of Northern Europe. (I am not suggesting I wanted that, just saying Greece is FAR worse off now than they would have been had Nea, Potami, or Pasok negotiated).

    I cannot imagine how Tsipras has the nerve to stay PM.

    Greece has accepted a ‘deal’ which will, once AGAIN, keep the country on minimal life support while Northern Europe harvests the remaining organs. It will not rebuild the economy it will not create jobs, and it will sink more people into poverty.

    The Parliament needed to end this joke NOW. Cowards, they failed, they acted in fear and not out of hope, and now SOME EU member Parliament needs to vote this down and kill it forever: on the basis that everyone knows (even Tsipras admitted publicly) thet the Greek economy cannot sustain such an agreement successfully. So, instead of letting the whole thing FAIL 3 months from now, another EU Pariament must kill it now.

    As for Greeks (I am Greek-American), I guess I do not understand WHY remaining in the Eurozone is so important to so many of them (at this point, actually, a small majority of them I suppose). The cost of staying is too much…it will make Greece a permanent economic cripple while the Dutch and Germans buy and take over the remaining Greek infrastructure.

    Greece will become the Beach Annex of Berlin, Amsterdam, Brussels, and Copenhagen.

  10. Yes, sadly this is true. What is still fail to understand is…exactly what happened here ?

    In their moment of triumph (the OXI), political infighting made Varoufakis leave, and the negotiating team did a 180 degree turn and rather than fight, decided to cave in.

    Something was going on here which we, the public, have not been clued in on.

  11. This is the saddest part of all. Tsipras bet his political carreer on the referendum, and the people agreed with OXI.

    Then he…and Syriza…sold them out, in 4 days time.

  12. Unfortunately. they are Nazis…so nobody will much care what they say. Much better were the speeches by Varoufakis and Lafazanis held much more weight.

  13. When he is tossed out as PM, that will suit just fine. He has lost the faith of all, even mauch of his own party. Perhaps this will be the launch of the political carreer of Lafazanis or Varoufakis…..leftists who have kept their integrity.

  14. Hopefully this will repeat ! This way, by the time this ridiculous ‘deal’ falls apart, Greece will not have been privatized into a million German and Dutch pieces !!!!

  15. Speaking of Varoufakis here is a telling statement he made a few says ago.

    “If our party, Syriza, that has cultivated so much hope in Greece … if we betray this hope and bow our heads to this new form of postmodern occupation, then I cannot see any other possible outcome than the further strengthening of Golden Dawn. They will inherit the mantle of the anti-austerity drive, tragically.” – Yanis Varoufakis to ABC Radio National (Australian Broadcasting Corporation) published July 13.

  16. This is truly a tragic day for Greece, the very cradle of Western civilization. A handful of worthless politicians who were entrusted by the misled voters of that republic have literally sold their birthright for forty pieces of silver — or fifty billion euros plus possibly some “campaign contribution” from the big German banksters and crapitalists. These economic vampires will literally sell and bleed white the economic abd physical infrastructure of Greece under this corrupt and evil agreement. This deal is nothing short of economic and political high treason. Greece is surrendering her very independence and sovereignty to the New World Order White Collar Mafia by agreeing to such draconian measures that were recently sounded rejected in a popular referendum by Greeks nationwide. The human vultures will descend on the peninsula and sell off or take over Greece’s utilities, including her electric, gas, water and sewer plants, and either sell them off to rich cretins abroad or get huge rate hikes that will press the long suffering people even further. They will take over the sea ports, air ports, and railroads and milk them for every penny, further undercutting Greece’s exports and competitiveness by sharply raising transportation costs. They will take over the publicly owned apartments and sell them off or jack up rents to unpayable levels. They will suck Greece dry like and orange and then toss it aside for the people to live in poverty, unemployment and misery ten times worse than they already endure for decades to come. Since it appears that the democratically elected politicians have sold the people out it appears that the only remaining viable option may be armed revolt for the Hellenes to take their country back from the home grown traitors and Nordic invaders from the North. Well Greece has on several occasions stood up to foreign invaders and stood them down including the ancient Persians several times, Arabs,Turks, and others through the centuries. Barring a miracle this may be the only way out of Greece’s long national nightmare into a new day of independence, peace, justice and prosperity. God bless, keep and guide these worthy and valiant people! The hopes of the world are upon you now!

  17. It’s very easy to sit here and criticize what happened in a 17 hour meeting. At this particular time, their only option was to make a deal with the EU, because there were no transitional plans in place, period. If they did not make this deal, however bad it may seem, the other alternatives would have had terrible consequences. Syriza made some bad moves, bottom line but unlike previous PM’s Tsipras dropped all party ideologies to save the pending doom. At least this buys us 3 years of trying to finally implement real reforms that may get us back to anything resembling a going, viable concern. He asked anyone who had a better solution to present it. Lafazanis talks a big game, but has no clue how it actually works. We know where the μνημόνια from previous governments got us, let’s see what Tsipras can do. I believe he is dead serious about rooting out the corruption that has taken our beautiful nation to the brink of Third world status. Samaras and all of them before him were straight up YES men, no denying that. You can’t buy anything with courage, sadly.

  18. I supported theSyriza government during the last 6 months. However, there is big blame to be placed here on Alex Tsipras. I have no problem with the deal if that is the best he could do. However, to allow the banks to reach a level of capital controls and closure before he folds his cards when he is not wiling to take an alternative path away from the Euro is reprehensible. He was raising the stakes in a poker game on nothing more than a bluff. Never in a million years should he have allowed the game to reach the bank closure stage if he was not willing to pull the plug on the EU experiment. I am ashamed to say that Tsipras has caused damage.

  19. It was deliberate. Tsipras wanted to put the Greek people’s backs to the wall in the hope that they’d vote Yes on July 5, so that he could sign onto a new memorandum with the excuse that he warned the Greek people to vote No, but that they voted Yes forcing him to sign. He is a disgrace, a sellout, a manipulative traitor.

    I hope that you consider supporting GD in future. Golden Dawn rejects any and all memorandums with the Troika loansharks, and advocates for a geostrategic shift to fellow Orthodox Christian Russia.

  20. according to leftists, anyone who is against illegal muslim immigration and illegal african immigrants is a nazi – its getting tiresome don’t you think? also sounds like a load of crap don’t you think?