Greek Parliament approved the new €130-billion loan agreement in the early morning hours of Wednsday. 213 MPs voted in favor, while 79 deputies voted against it and 8 MPs did not cast a vote. The loan agreement was voted in favor by coalition government deputies from socialist PASOK, conservative Nea Dimokratia and (neo-liberal) Democratic Alliance of Bakoyanni. Communist KKE, left SYRIZA and Democratic Left, far-right LAOS and several indepentant MP voted against it.
On Tuesday, the first trance (5.9 billion euro) of the second bailout has been released. According to the new loan agreement, the trances will not be released three months in advance, but on a monthly basis or just a few days before the payment of mature Greek bonds. This measure aims to secure that the money form the bailout-trances will be used first of all to serve the Greek debt. The tranches money will land in a separate account at the Bank of Greece. However it seems, that the money of the future tranches will be deposited in a foreign bank.
The second tranche (3.3 billion euro) is expected to be released in April, the third (5.3 billion euro) in May.
PS The other tranches will depent on the behaviour of the new government that will emerge form the elections, I suppose …
