Sat, Aug 15, 2015 - Page 7 News List

Greek lawmakers vote for bailout after all-night talks

NO ‘HEROIC’ SUICIDE:The vote sparked bitter debate, but a majority backed the deal, as Tsipras warned that Germany’s push for only a bridging loan would mean unending crisis


Greek Prime Minister Alexis Tsipras, right, listens to Greek Minister of Economy, Infrastructure, Shipping and Tourism George Stathakis during a parliamentary vote by lawmakers on a bailout deal in Athens yesterday.

Photo: Bloomberg

Greek lawmakers finally voted through the country’s third international bailout yesterday after a bitter all-night debate, hours before European finance ministers were due to meet to approve the deal with Germany digging in its heels.

As Eurogroup ministers gathered in Brussels to rubberstamp the 85 billion euro (US$95 billion) rescue plan, Greek Prime Minister Alexis Tsipras warned that any German bid to palm off his debt-ridden country with a bridging loan rather than a new deal would be “a return to a crisis without end.”

Tsipras appealed to other EU countries to reject the alternative solution that Germany was suggesting, which he said would only prolong the agony.

“It is what certain people have been looking for systematically, and we have a responsibility to avert that, not to facilitate it,” the embattled prime minister told the parliament after a day and night of heated debate on drastic austerity measures that have deeply divided his SYRIZA party.

Athens needs to unlock bailout funds before a 3.4 billion euro repayment to the European Central Bank falls due on Aug. 20.

A majority of 222 lawmakers approved the 400-page draft deal with 64 voting against, including 40 from Tsipras’ own leftist party ranks.

Outspoken former Greek minister of finance Yanis Varoufakis and other senior SYRIZA cadres refused to support the three-year deal, which the prime minister has previously warned would force him to call early elections.

Tsipras said that failure to ratify the deal would enable Germany to push forward its proposal for a bridging loan.

However, Berlin, Europe’s paymaster, insists it needs further clarifications from Greece before giving the deal the nod.

Facing down critics in his own party, Tsipras told members of parliament: “I prefer compromise to the heroic dance of Zalongo” — a reference to a notorious 19th-century mass suicide in northern Greece when a group of women and children jumped to their deaths rather than submit to the Ottoman governor Ali Pasha.

His government “had taken on the responsibility to continue the fight, rather than commit suicide and then go running to other international forums saying it wasn’t fair that we had to kill ourselves,” he added.

Tsipras had said there was no choice but to agree to the painful cuts and sell-offs demanded by its international creditors “to assure the country’s ability to survive and keep on fighting.”

The vote was originally set for late Thursday, but was held up by procedural wrangling from hardline Greek Parliamentary Speaker Zoe Constantopoulou, who termed the bailout unconstitutional.

“Every corner and beauty of Greece is being sold... The government is giving the keys to the troika along with sovereignty and national assets,” she said, referring to the country’s creditors — the EU, the European Central Bank and the IMF.

The highly charged clashes on the deal began in parliamentary committees on Thursday, with debate raging on for nine hours through the night in the full chamber.

Now the drama moves to Brussels where eurozone finance ministers are expected to issue their verdict on the draft deal reached by Athens and officials from the creditors after weeks of negotiations.

German Deputy Minister of Finance Jens Spahn sounded a note of caution about the prospects of a final deal there, saying Berlin and Paris still had questions on Greece’s plans to privatize parts of its economy.

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