Monday, March 31, 2014

Greece prepares to approve bill needed for fresh loans. -Despite eleventh hour attempts to delay voting by the opposition.

ATHENS: The Greek parliament was expected to approve late on Sunday a bill required by the country's international lenders despite eleventh hour attempts to delay voting by the opposition.
Greece's main opposition Syriza party called for a dissent and censure motion against Finance Minister Yannis Stournaras, in an attempt to push back the crucial vote on reforms.

Syriza's leader Alexis Tsipras who branded the new bill "a crime committed against the people and our country", accused Stournaras of being "the main administrator of the death contract against Greek society".

"You are passing a sweeping 600-pages multi-bill with which you are signing away the banking system and you are abolishing labour rights and the public insurance system," Tsipras said, condemning the fast-track parliamentary procedure that has been chosen.
The motion was rejected. As the parliament debated the bill up to 12,000 people protested outside.

Greece wants the bill ratified ahead of meetings with EU finance ministers in Athens on Tuesday in order to formally conclude the agreement for the new tranche of EU-IMF loans by the second half of April.

  • The legislation, which incorporates international recommendations to improve competitiveness and also facilitates a long-delayed bank recapitalisation, will unlock for Greece some 8.5 billion euros ($11.7 billion).

On Saturday, Greece's deputy minister in charge of rural development and food, Maximos Charakopoulos, resigned over new milk regulations, while other coalition government's lawmakers have threatened to vote against the bill for the same reason.
Greek prime minister Antonis Samaras has emphasised the bill represents the final bout of austerity measures adopted since 2010, when Athens was forced to apply for an EU-IMF bailout to stave off bankruptcy.

  • The government has come under pressure from professional groups about measures in the latest bill.
  • Pharmacists launched last week an indefinite strike and the Greek Seamen's Union (PNO) has also protested against the latest reforms.
Greece has announced plans to return to borrowing on financial markets in the second half of the year, and it could be much sooner, according to media.
"What is of interest to us is for (the agreement on the debt arrangements) to take place immediately, in the most realistic way, taking into consideration... all the lenders," he said in an interview with Real News on Sunday.

1 comment :

  1. Greek opposition's surprise initiative causes delay of key reforms bill vote...

    Greece's main opposition party, the radical left coalition SYRIZA, on Sunday tabled in parliament a no-confidence proposal against Finance Minister Yannis Stournaras, accusing him of promoting "catastrophic" economic policies for Greek people.

    The surprise initiative caused a delay in a parliamentary vote on a multi-bill on new reforms, which was initially scheduled to take place on Sunday evening.

    The approval of the draft bill is a prerequisite for the release of the next bailout aid tranche to Athens by international lenders.

    Greece's conservative-led coalition government's goal was to secure the green light during the upcoming informal meeting of euro zone Finance Ministers in Athens on Tuesday.

    It has not been clarified yet when the vote of the key reforms bill will be eventually held.

    According to law experts, the no-confidence vote against the Finance Minister should wrap up on Tuesday night and then the parliament could continue the debate on the omnibus bill.

    In a first reaction by the government, Minister of State Dimitris Stamatis accused SYRIZA party leader Alexis Tsipras of populism.

    "You are acting against national interests," Stamatis said. "On Tuesday European institutions gather in Athens to give us funds. You do whatever possible to block the disbursement."

    The development came as labor unions also protested the reforms bill with rallies in central Athens. They claimed that the reforms which include the further liberalization of professions and markets will make the everyday life of millions of Greeks suffering from a six-year recession deteriorate.

    Cabinet ministers responded that the structural reforms which follow four years of tough austerity measures introduced to avoid a bankruptcy are necessary to restore Greece's economic growth.

    The two-partite coalition of conservatives and socialists hold 153 seats in the 300-member strong parliament.
    http://www.globaltimes.cn/content/851771.shtml#.Uzkt3M7RPAI
    31/3/14

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