The Greek parliament gives the green light to Alexis Tsipras' crucial reform proposals, taking Athens one step closer to remaining in the euro zone.
The Greek parliament has voted an overwhelming ‘Yes’ to the crucial third version of a deal aimed at freeing up 53.5 billion euros in bailout funds from its international creditors.
Parliamentarians voted 251 in favour of the proposals, 32 against and eight abstained.
It’s hoped the reforms proposed by Athens will avoid a Grexit from the euro zone.
The 13-page document is essentially the same one that was presented to the country two weeks ago.
It contains cuts and spending measures thought to come to 1.5 billion dollars.
But Prime Minister Alexis Tsipras says this agreement is the better than the others.
Speaking earlier on Friday evening (July 10), he said:
“I never asked for a ‘No’ vote in the referendum to pull us out of the euro zone, but rather to strengthen our negotiating hand. I didn’t deceive the Greek people or the political leaders.”
The EU has responded positively to the proposed reforms, according to an insider. The Eurogroup is expected to make a decision on the submitted bailout package at a meeting this weekend (July 11-12).