Greek Parliament to Vote on Bailout Deal Ahead of Eurogroup Meeting

Greek Parliament to Vote on Bailout Deal Ahead of Eurogroup Meeting

Following an overnight debate, the Greek Parliament is set to vote on the third bailout programme ahead of the scheduled meeting of eurozone finance ministers later on Friday.
Tax rises, pension and other spending cuts are among the reforms, which Greece has to implement in order to be granted a new bailout of about 85 billion euros.
Greek Prime Minister Alexis Tsipras expressed confidence that the parliament will approve the bailout despite the opposition of senior members within his SYRIZA party.
The MPs have to approve a memorandum of understanding before the Eurogroup can endorse the deal, the BBC reports.
It is vital for Greece to reach agreement on new financial aid before August 20, when a debt repayment of about 3.2 billion euros to the European Central Bank (ECB) falls due.
In previous votes on the bailout reforms, MPs of the main ruling party SYRIZA have expressed their firm opposition to the government.

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