Greek Parliament Set To Vote Reforms To Secure Bailout Deal

bailout deal-greekThe Greek parliament is set to vote on a set of reforms needed to secure its bailout deal. The vote is expected to pass with the support of opposition parties.

But Greece’s public sector union is planning to protest against the measures.

The bill lawmakers would vote on Wednesday to cover rules for dealing with failed banks and speeding up the justice system.

If MPs approve the financial and judicial reforms, Greece would be able to press ahead with negotiations for an 86 billion Euro bailout from its creditors.

The Greek Health Minister, Panagiotis Kouroumplis, said “We are making an effort to have fewer dissenters”.

He said there were doubts about whether the new measures could pull the recession-hit economy out of its impasse.

“But since we agreed, we must implement them.”

The International Monetary Fund (IMF), confirmed on Monday that Greece had cleared its overdue debt repayments of 2.05 billion Euro and was no longer in arrears.

The repayments, and another for 4.2 billion Euro to the European Central Bank due on Monday, were made possible by a short-term EU loan of 7 billion Euro.