The European Council decision for a permanent European Stability Mechanism (ESM) and the Treaty on Stability, Coordination and Governance in the Economic and Monetary Union (TSCG) were both ratified by the Hellenic Parliament yesterday.

A hundred and ninety four MPs voted in favour of the bill as well as of article 4 that establishes a special account through which Greece will pay off its loans. Meanwhile, the terms and conditions of a bank recapitalization scheme were discussed during a meeting between Prime Minister Lucas Papademos and Finance Minister Philippos Sahinidis. Final decisions on the issue are expected to be unveiled before the Easter holiday.