Arab Today, arab today greek pm urges parliament to approve new reforms
Last Updated : GMT 06:13:15
Arab Today, arab today
Arab Today, arab today

Greek PM urges parliament to approve new reforms

Arab Today, arab today

Arab Today, arab today Greek PM urges parliament to approve new reforms

Greek Prime Minister Alexis Tsipras
Athens - AFP

Greek Prime Minister Alexis Tsipras urged parliament early Saturday to approve a reform package offered to the country's creditors, to keep the nation 'alive' and in the European Union.

His call for a vote of "national responsibility" came as an EU source in Brussels said the country's latest debt proposals were "positive" enough to form the basis of a massive new bailout worth 74 billion euros ($82 billion).

Tsipras spoke as parliament prepared to vote on his controversial package of reforms, which have sparked criticism from hardline members of his radical left ruling party Syriza.

Most opposition parties however have expressed willingness to back them.

"It is a choice of high national responsibility, we have a national duty to keep our people alive...we will succeed not only to stay in Europe but to live as equal peers with dignity and pride," Tsipras said.

His government is asking Greece's international creditors for a three-year funding plan including debt relief and a separate 35-billion-euro investment package.

Despite growing anger in Greece over austerity, Tsipras caved in to demands by the creditors for a pension overhaul, tax hikes and privatisations.

- A 'positive' evaluation -

The concessions have brought relief from many quarters. In Brussels, an EU source who asked not to be named said "there has been positive evaluation of the Greek programme."

The EU's bailout fund, the European Stability Mechanism, was ready to consider putting up 58 billion euros plus 16 billion euros from the International Monetary Fund for what would be a third debt rescue, the source said.

This would now go to the Eurogroup of 19 eurozone finance ministers who meet Saturday but it stood only a "50-50" chance of approval due to opposition by hardliners such as Germany who oppose any debt relief for Athens.

The Greek proposals fail to meet international demands on some thorny issues, including tax breaks for Greece's islands and cuts to military spending.

Speaking ahead of an EU summit called Sunday for a final decision, Tsipras admitted mistakes had been made but insisted the new proposals were the best possible deal for Greece.

- Debt mountain -
"The loan deal...entails many proposals that are far from our pledges, from what we feel is right for the recovery of the economy," the prime minister said.

But it was "marginally better" than proposals put forward by the creditors last month that did not offer debt relief from Greece's suffocating 320-billion-euro ($350-billion) mountain of debt.

Finance Minister Euclid Tsakalotos said the government wanted parliament's approval "to strengthen the country's bargaining position, to achieve better terms in the agreement."

But the Greek leader also risks alienating large numbers of the ruling party's supporters, who rejected in a national referendum last Sunday a very similar set of proposals put forward by Greece's creditors.

Some 8,000 people gathered in Athens ahead of the parliamentary vote to protest against more austerity, police said.

In a bid to head off a possible challenge to the measures within his hard-left party Syriza, Tsipras urged lawmakers "to stand united and firm in front of these important decisions."

- Euro, markets soar -
Earlier, France and Italy welcomed the new proposals, with French President Francois Hollande calling them "serious and credible" while cautioning that "nothing is decided yet."

Italian Prime Minister Matteo Renzi declared himself "more optimistic" that a deal would be done.

But Germany said the outcome of this weekend's crisis talks was "completely open."

Berlin leads a bloc of hardline eurozone nations saying that, after two bailouts over the past five years totalling 240 billion euros, and 107 billion euros in debt forgiveness in 2012, Greece is looking like bottomless money pit.

The possibility of a breakthrough sent stock markets soaring in Europe, Asia and the US on Friday.

Meanwhile the euro briefly rose above $1.12 for the first time in July before falling back slightly in later trade, still up at $1.1152.
Although Greek voters last Sunday roundly voted "No" to accepting tough austerity terms for a bailout that expired June 30, they are alarmed at capital controls that have closed banks and rationed ATM cash.

They also overwhelmingly want to keep the euro.

"The government has to find a deal with its European partners no matter what. We didn't vote 'No' to leave the eurozone," said a pensioner in Athens, Nikos Eftekidis.

But another pensioner, Giorgos, said the "government's proposed measures are very tough, I wasn't expecting that. That's not what the Greeks voted for."

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today greek pm urges parliament to approve new reforms Arab Today, arab today greek pm urges parliament to approve new reforms

 



Arab Today, arab today
Arab Today, arab today US, Britain ban laptops on flights

GMT 07:36 2017 Wednesday ,22 March

US, Britain ban laptops on flights
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today Hezbollah commander killed by own men

GMT 07:43 2017 Wednesday ,22 March

Hezbollah commander killed by own men
Arab Today, arab today Tunisian media host praises her new experience

GMT 12:35 2017 Wednesday ,15 March

Tunisian media host praises her new experience

GMT 10:43 2017 Wednesday ,22 March

Bags carry Hermes to record profit

GMT 09:49 2017 Wednesday ,22 March

Khamenei fleshes out 'Made in Iran' vision

GMT 08:46 2017 Wednesday ,22 March

Cooperation with specialised British companies hailed

GMT 07:35 2017 Wednesday ,22 March

David Rockefeller Dies at Age 101
View News in Arabic - Business: اقتصاد دولي
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Yemeni official warns education is under threat

GMT 12:03 2017 Tuesday ,14 March

Yemeni official warns education is under threat
Arab Today, arab today 2017 already marked

GMT 15:25 2017 Tuesday ,21 March

2017 already marked
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Renault Trezor wins design award

GMT 11:56 2017 Tuesday ,21 March

Renault Trezor wins design award
Arab Today, arab today Palestinian police wage war

GMT 07:53 2017 Friday ,17 March

Palestinian police wage war
Arab Today, arab today Donia Abdel Aziz participates in "Game of Silence"

GMT 07:12 2017 Tuesday ,21 March

Donia Abdel Aziz participates in "Game of Silence"
Arab Today, arab today Mexico threatens to ditch US corn imports

GMT 10:34 2017 Tuesday ,21 March

Mexico threatens to ditch US corn imports

GMT 07:39 2017 Monday ,20 March

Dalia Mustafa believes in the presence of ghosts

GMT 19:27 2017 Saturday ,11 March

Boualsof launches "Priestess Kahina" collection

GMT 16:41 2017 Monday ,20 March

Preserving the memory of glaciers

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 14:17 2017 Monday ,20 March

Cholesterol-slashing drug not impair brain

GMT 17:08 2017 Saturday ,18 March

Reveals secrets of tourism flights to space

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons

GMT 22:39 2017 Thursday ,09 March

Zuhair Murad presents his new collection "Resorts"
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday