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Greece Approves Fresh Reforms, Clearing Way for New Bailout Talks
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23.07.2015
Greece's radical left-led government emerged bloodied but alive early Thursday from a key vote in parliament, which overwhelmingly approved new creditor-demanded reforms despite a revolt among hardliners in the main coalition partner.
The reforms to the judiciary and banking systems were the final hurdle the financially-battered country was obliged to clear before it can start talks with its creditors on a third bailout worth around 85 billion euros.
Without the money Greece would face financial ruin and forced exit from the euro currency club.
Lawmakers voted 230-63 in favor of the measures, following a whirlwind debate that ended at 4 a.m. Another 5 members of the 300-seat house voted present, a kind of abstention.
Prime Minister Alexis Tsipras was unable to forestall a second revolt in a week among his own Syriza party lawmakers, but had no trouble passing the draft legislation with the backing of pro-European opposition parties.
The reforms to the judiciary and banking systems were the final hurdle the financially-battered country was obliged to clear before it can start talks with its creditors on a third bailout worth around 85 billion euros.
Without the money Greece would face financial ruin and forced exit from the euro currency club.
Lawmakers voted 230-63 in favor of the measures, following a whirlwind debate that ended at 4 a.m. Another 5 members of the 300-seat house voted present, a kind of abstention.
Prime Minister Alexis Tsipras was unable to forestall a second revolt in a week among his own Syriza party lawmakers, but had no trouble passing the draft legislation with the backing of pro-European opposition parties.
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