Greek parliament approves second bailout reforms bill
The austerity measures in the bill include changes to the country’s banking and judiciary systems seen as crucial for the country's new bailout package

The Greek parliament has approved a second bill of reforms seen as crucial for its new bailout package.

The austerity measures in the bill include changes to the country’s banking and judiciary systems.

Debate over the bill began late Wednesday night and the vote was carried out early Thursday morning. There were 230 votes in favor of the measures, while 63 voted against with five abstentions.

Of the 63 voting against, 31 were deputies of Syriza, the majority party in the ruling Greek coalition.

The main opposition New Democracy, Pasok party and Potami party all voted in favor of the bill, while the far right Golden Dawn and Communist Party of Greece voted against.

Former Greek Finance Minister Yanis Varoufakis, who voted no in an earlier held vote, this time voted in favor.

Greek Prime Minister Alexis Tsipras will now aim at satisfying the country’s European creditors and securing a three-year bailout worth €85 billion ($93 billion).

Prior to the vote, Tsipras said: "I am deeply convinced that this struggle will not go to waste. What is wasted is the battles not fought," adding: "Not only do I not regret this struggle, I am proud I fought it, because the rights of the Greek people were heard throughout the world".

He also said: "We were led to a difficult compromise, having exhausted every negotiating option; we touched the limits of the Greek economy and of the banking system".

Tsipras admitted that mistakes were made but highlighted that a battle was fought against unfavorable odds. "Mistakes are only made by those who do not try," he said.

Earlier, Finance Minister Euclid Tsakalotos said that the Greek team for the bailout negotiations was united.

Just hours before the vote, the European Central Bank released €900 million, while the International Monetary Fund confirmed on Monday Greece’s overdue payments of €2.05 billion.

The Greek government has to pay another €3.2 billion owed to the ECB by August 20 and €1.5bn to the IMF due in September.

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Last Modified: 2015-07-24 06:08:24
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