Greek PM Faces Hard Sell On Bailout Deal

Greece's prime minister faces a battle to convince his colleagues and coalition partners to support the bailout terms.
Greece's prime minister faces a battle to convince his colleagues and coalition partners to support the bailout terms.

Greece’s prime minister faces a battle to convince his colleagues and coalition partners to support the bailout terms.

Greek Prime Minister Alexis Tsipras was Tuesday to hold meetings with his parliamentary majority, faced with the tough task of selling a new bailout deal that requires Athens to push through draconian reforms within days. Tsipras needs to secure backing for the deal from the Greek people, parliament and his radical Syriza party, which shot to power in January on the back of promises to end five years of bitter austerity under two previous bailouts. The agreement struck Monday to prevent Greece crashing out of the euro requires parliament to make sweeping changes to labour laws, pensions, VAT and taxes by Wednesday, according to the deal document. Only then will the 18 other eurozone leaders start negotiations over what Greece is to get in return: a three year bailout worth up to 86 billion euros, it’s third rescue programme in five years. In Washington, the White House hailed the deal as a “credible step” on the long path to economic growth and debt sustainability in the hard-up country. “The agreement reflects a commitment by Greece’s creditors to provide financial support and help create a path for Greece to return to growth and achieve debt sustainability,” said Josh Earnest, White House spokesman. Europe’s first step will be to push the deal through several national parliaments, many in countries that are loathe to afford Greece more help.

About The Author

Chukwunonso Azinge is a Public health parasitologist whose variety of intrests ranges from international news reportage, writing articles on current world issues and of course football. Follow me on Twitter @azingelfc and on Facebook- Nonso 'King Kenny' Azinge.

Related posts

%d bloggers like this: