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Greek parliament to vote on Tsipras' last-ditch bailout plan

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By Euronews
Greek parliament to vote on Tsipras' last-ditch bailout plan

<p>The Greek parliament is to vote on the Syriza government’s fresh proposals to creditors to secure another bailout – and avert financial collapse and a messy exit from the eurozone.</p> <p>Prime Minister Alexis Tsipras met party members on Friday morning to seek backing for the plans – thought to include austerity measures rejected by voters in last weekend’s referendum.</p> <p>Athens has been asked to pass laws on “prior actions” to convince lenders of its intent on implementing reforms.</p> <p>Some left-wingers in Syriza are thought to be opposed but the plans are expected to get through parliament thanks to support from opposition parties.</p> <p>The debate followed by a vote of MPs is due to take place later on Friday.</p> <p>European markets responded positively this morning to the new package – which includes pension reforms and tax rises.</p> <p>It’s thought some debt restructuring will be offered in return.</p> <p>The proposals are also due to be considered by eurozone finance ministers ahead of a full summit of EU leaders on Sunday.</p> <p>Eurogroup Chairman Jeroen Djisselbloem has been quoted as saying that <a href="http://www.bloomberg.com/news/articles/2015-07-10/greek-proposals-go-to-creditors-as-germany-awaits-assessment">a decision on the proposals would probably be made on Friday</a>.</p> <p>Germany has reportedly said it will suspend judgement on the package of measures, to allow creditors to make their first assessment.</p> <p>The French economy minister Emmanuel Macron has said he is optimistic that a cash-for-reforms deal can be reached, adding that the question of Greece’s debt burden must be addressed.</p> <p>Tsipras and his cabinet spent Thursday putting the last-ditch cash-for-reforms package together. </p> <p>Between now and the end of 2016, Greece proposes scrapping tax breaks for its islands and cutting defence spending by 300 million euros. The package would see <span class="caps">VAT</span> raised; and early retirement curbed.</p> <p>In return, Athens is asking for 53.5 billion euros’ of funding to cover its loan obligations till the end of 2018. </p> <p>Eurozone leaders are expected to announce their decision following Sunday’s summit.</p>