Thursday, July 16, 2015

The omnibus bill - Emergency measures for the negotiation and agreement with the European Stability Mechanism (ESM) - that includes the prior actions demanded by Greece's lenders was approved in Parliament early this morning by an overwhelming majority of 229 votes in the 300-seat chamber. There were 64 votes against and 6 abstentions, with significant dissent from members of Prime Minister Alexis Tsipras' Syriza party.

Addressing Parliament in the course of the debate preceding the vote, the PM said that Greece is at a critical juncture and called upon to vote responsibly. He referred to the tough negotiating process leading to the agreement, admitted that mistakes were made, and reiterated his personal responsibility for the struggle. He also stressed the need for restructuring Greece’s massive public debt, noting that the deal included a strong commitment towards that need.

"If there is any possibility of the economy emerging from the crisis, it comes from the possibility of a debt restructuring, and that is ensured in the medium and the longer-term," he said.

Tsipras said there was no alternative to the package, which he acknowledged would cause hardship, but he stood by the decision. “I am the last person to shirk this responsibility,” he told parliament.

In reference to the dissent within Syriza’s parliamentary group, government spokesman Gabriel Sakellaridis reiterated that the priority of both the PM and the government remains the successful conclusion of the agreement in the immediate future.

  • Eurogroup teleconference
A Eurozone finance ministers’ conference call took place this morning - likely to be followed by another tomorrow- hot on the heels of the Greek parliamentary vote passing reform measures that pave the way for the resumption of negotiations with Athens, so that the new support programme and loan from the ESM may be approved.