The end of the crisis? Greek parliament backs bailout proposals

Greece’s parliament has backed the government’s latest economic reform proposals aimed at securing another crucial EU bailout. The plans detail how the Greek government intends to tackle the country’s debt and avoid a possible exit from the eurozone. They were backed by 251 of 300 deputies, meaning they can now be presented to the leaders of all 28 European Union member states at a “decisive” summit on Sunday.

The priority now is to have a positive outcome.

Prime Minister Alexis Tsipras

The plans will serve as a basis for a potential deal with Greece’s international creditors, who Athens hopes will unlock billions in financial support. In a statement issued after the vote, Prime Minister Alexis Tsipras said he had a “strong mandate to complete the negotiations to reach an economically viable and socially fair agreement”. The package includes a set of painful tax rises and pension reforms very similar to those rejected by the Greek people in last week’s referendum. In return, Athens is asking for a €53.5bn (£38.5bn) bailout from the European Stability Mechanism (ESM), the EU organisation that provides financial assistance for eurozone members.

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