With a Third Greek Bailout in Place, Questions About Snap Elections Arise



tsipras-v-1070After the Eurogroup’s blessing of a new Greek bailout deal, Greece’s short term financial problems appear to be temporarily resolved.

With the first 26-billion-euro installment, the country will be able to pay its debts until mid October and the compromised Greek banks will receive 10 billion euros, which will soon be followed by another 15 billion after a stress test in the fall.

Attention now turns to the country’s uncertain and unstable political landscape.

Various reports claim it is very likely that Greek Prime Minister Alexis Tsipras will ask the Greek parliament for a vote of confidence.

A vote of confidence requires more than half of the parliament’s favor, while the participation of at least two fifths of parliament members is required for a valid voting session. If all Greek parliament members vote, the government will need the support of 151 MPs.

If the government is unable to secure the parliament’s confidence, Tsipras will have to either call snap elections, most likely to be scheduled for the end of September, or form a new government that will garner the support of other parties in parliament.

The current SYRIZA-ANEL coalition government consists of 162 MPs. In the latest round of parliamentary sessions to legislate reforms and austerity measures agreed with international creditors, 42 SYRIZA MPs did not vote in favor of the proposed legislation, which their own party negotiated.

It is unclear where all these 42 MPs would stand come time for a vote of confidence. Certain MPs like former Energy Minister Panagiotis Lafazanis and Parliament President Zoe Konstantopoulou have made clear their complete disagreement with the Prime Minister’s policies, while others have argued that they support Tsipras but not the Memorandum, effectively making their voting position unknown. A vote of confidence occurs through an open ballot and therefore each MP’s vote will be a matter of public record.

Amid this stark rift within his party, Tsipras has been able to legislate bailout prior actions in parliament with the support of New Democracy, “To Potami” and PASOK. Therefore, essentially with the opposition’s support.

Despite this unusual political alignment, Real.gr cited sources claiming that opposing political parties would not vote in favor of the Tsipras administration.

Greece is set to receive 13 billion euros by August 19 to repay various debts. It is widely reported that Tsipras will ask for a vote of confidence after August 20.


9 COMMENTS

  1. Tsipras should be in jail…for treason and betraying his country…hopefully he will be canned and the new party made up of the dissident members of Syriza will convince the Greeks that this is Slavery and a sell out of Greece, and come to power. I voted for Syriza, and I feel betrayed, especially after the “OXI” vote in the referendum. Democracy has been enslaved to predatory Capitalism….BRING BACK THE DRACHMA..!!!!!!!!!!

  2. Not only Tsipras should be in jail, all those fools in Brussels and in the different parliaments who agree another hughe transfer of money, never returning, should be in jail for life.
    They con and swindle their own citizens and voters.
    Indeed its treason to rob its own taxpayers and lie to them to achieve their europhile dream, whats becoming for muillions of ppl. more like a nightmare.
    So I agree, no more slavery and sell out for Greece, get yourself free from predatory capitalism, refuse even a single euro given and return to the drachma which wil be devaluating in such a fast time time importgoods cannot be afford anymore by the working class.
    From medicins till meat, Greece all imports it with almost no export.
    So, yes return to the drachme beeing proud and independent please.

  3. Syriza has taken the Greek Economy on a nosedive ever since they took office. Their members had little expertise in politics, business, economics, or anything else. And then they awarded the high authority positions to their similarly qualified buddies. Confidence Vote! They should tar, feather, and escort the whole party out of town. Hopefully the Greeks have learned their lesson and will not elect a new government which promises prosperity without austerity.

  4. Once Tsipras’ reforms come into effect he’ll wish he could be hiding in Amphipolis or a Halkidiki gold mine. After he is ousted and If he slips out of the country he has a nice well compensated position waiting for him. His Betty already has the bags packed by the front door ready for a fast getaway.

  5. Good luck to the eu getting your money back…Just want to say a big Thank you for driving all the Greek companies to Bulgaria and leaving everyone in Greece unemployed with a fantastic future to look forward to…Your legacy will be one that drive the final nail in the coffin…When people are unemployed how do you expect them to pay taxes…??? How do you expect the government to repay the debt long after you guys leave politics?? Your plan is a disaster…

  6. The concept is still the same as 80 years back, promise the ppl. prosperity and a lot /mostly poor educated/ will follow point your finger its all others fault and the same will agree.

  7. You can’t just vote yourself out of your responsibilities. But you can become bankrupt and return to the drachma. Have you really thought that scenario through properly? Or is this going to be another rash decision that Greece will regret. Imagine banks collapsing, your money becoming valueless, capital controls, foreign banks selling your property to recover debt. That’s what bankruptcy is. Then you can have the drachma and Greece can recover but the pain fur Greece, in my opinion will be worse.

  8. Zante..you have no clue…in 1940, the fascists from Italy told us the same thing, we answered OXI…the Nazis came with the Bulgarians and Albanians and we fought for what we believed to be our freedom and democracy…Tyranny has many forms, in the 21rst century the EU used Banks to control and manipulate the fate of a country..not Tanks….but Banks..This is Tyranny of the highest form..the EU is trying to Standardize, regiment, regulate, and ultimately control an entire nation to it’s way of thinking….Bankruptcy will mean the creditors will get shit…and if they try, they will have to place an embargo on Greece….oil?..we get it from Russia, electricity.?..we have plenty…Food..?…we are the bread basket of the EU..Goods..?…we have them…The drachma will be valueless to the rest of EU…NOT to Greece, we had a beautiful system based on the people..for the people, by the people, of the people…The right wing Fascist Predatory Capitalists raped my country…The time to bring our independence is now…if the Greeks still have a small vestige of 1940 left inside of them, within one year, the Drachma will be back, and we will have our fate in our own hands..

  9. There is a big difference between war, politics and debt- you and tsipras are delusional. Greece made a bad decision to join eu. But the debt is greeces and their inability to bail out the banks is due to fiscal incompetence. Almost every other country was able to bail out the banks and save people’s savings. Now Greece is stuck paying a price for its own mismanagement. They signed agreements giving the eu and Germany so much power. How stupid. If they had no choice then they were not a sovereign government. Business is business I can’t vote at home and say “I’m not paying my home loan because the banks increased their fees and the bankers are a bunch of crooks” I’m stuck with it unless I negotiate a better loan elsewhere. Greece does not have that option because no one wants to lend them money because they have a bad record of paying. This is simplistic but this is how it works and tsipras is finding this out. people who don’t understand economics Vote based on emotion.
    The drachma will work but how will you pay for fuel, Medicines and everything else Greece does not produce as the drachma devalues.ii challenge you to find 10 products that Greece makes in sufficient quantities to feed its people.

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