The controversial third bailout agreement that was negotiated and agreed to– by force, according to Greek prime minister Alexis Tsipras– was passed in the Greek parliament following a tense debate and all-night vote. The deal includes tough reforms and unpopular measures that European creditors have imposed on the people of Greece.
Legislation includes cuts in pensions, an increase of the value added tax (VAT), a clamp down on collective bargaining agreements and the establishment of quasi-automatic spending constraints. The most controversial component was the putting aside of 50 billion euros of public sector assets to be sold off under the supervision of foreign lenders.
The vote came as several members of Tsipras’ ruling Syriza party, including his ex-finance minister Yanis Varoufakis and president of the parliament Zoi Konstantopoulou– voted no. Numerous other left-leaning members of the Syriza party also voted no, leaving Tsipras in a precarious position within his own party.
299 MPs voted. A total of 64 voted “no” including 32 Syriza MPs. 6 voted “present (abstain).” A total of 229 parliamentarians from the opposition and other parties voted in favor of the bailout plan.