Greeks hold anti-austerity protest in Athens
People in Greece have staged an anti-austerity protest rally as Greek lawmakers prepare to vote on an agreement between the country and its international creditors on a third bailout.
The protesters shouted slogans against the deal during the peaceful demonstration in the capital, Athens, on Thursday, saying that that the bailout deal will have a negative impact on all sectors of the society.
The Greek lawmakers have been wrangling over a bill on the terms of the third bailout in a parliamentary committee debate that began in the morning. Reports said voting on the bill was unlikely until the early hours of Friday.
The emergency session was called by Prime Minister Alexis Tsipras for a key vote on the ratification of the bailout deal.
“I must go to the Eurogroup tomorrow with the deal approved (by parliament),” Greek Finance Minister Euclid Tsakalotos told the chamber.
The eurozone finance ministers, also known as the Eurogroup, are also scheduled to meet in Brussels on Friday to discuss the agreement and vote on the draft deal Athens and its creditors reached after weeks of negotiations.
On Tuesday, Athens agreed to a deal with the International Monetary Fund (IMF), the European Central Bank (ECB), and the European Commission to receive a bailout worth €85 billion (USD 94.8 billion).
Tsipras, whose leftist government came to power on anti-austerity vows, caved in to the lenders' demands that include harsh reforms, sparking opposition inside Greece.
The deal needs the approval of the eurozone finance ministers including that of Germany, which has expressed skepticism over the agreement that is aimed at resolving Athens’ debt crisis.
On Wednesday, the German Finance Ministry said it had “formulated” questions regarding the bailout deal, adding that the questions would be discussed among the eurozone finance ministers on Friday.
Berlin is the main creditor of Greece and its approval is needed in order for the new bailout package to be given to Athens so that it can repay €3.2 billion (USD 3.5 billion) to the ECB by an August 20 deadline. This is while a recent report by the non-profit Leibniz Institute of Economic Research shows Germany gained an estimated €100 billion from the Greek financial crisis.
The recent deal unlocks the third bailout package for Greece since 2010. It has so far received two bailouts worth a total of €240 billion (USD 272 billion).
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