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+++Gov’t sends Greece’s proposals to Parliament, voting on Friday

The Greek government send the country’s proposals to the creditors to the Parliament on Thursday night. Tomorrow Friday, the Proposals will be discussed and approved first by the Parliamentary Commission in charge and later by the Parliament;s Assembly. The Parliament will have to approve the Proposals as the basis on which Prime Minister Alexis Tsipras, Finance Minister Euclid Tsakalotos and Deputy PM Yannis Dragasakis will negotiate with creditors.

The procedure comes in form of urgency

The ratification of the agreement will take place when the negotiation is complete and a final agreement has been reached.

A government source told the agency Reuters: «This is a movement that aims to show that the government has the political will to proceed with reforms, but not to proceed with unilateral action before the European meeting.”

The proposals package was approved by the cabinet earlier.

After the Referendum, PM Tsipras and leaders of New Democracy, To Potami, ANEL and PASOK agreed to authorize the PM to negotiate with the creditors.

PS  some mean Greeks now reckon, when PASOK and ND would bring MoU and loan agreements and 10,000 pages of 1,000,000 austerity measures in the form of urgency bill in the Parliament and their MPs had to vote in favor, while some Ministers had admitted, they had no idea what we were voting for as they hadn’t read the MoU.

Pah! This now looks to me as too much democratic procedure….

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  1. Some sources speculate that the proposal of economic reforms and spending cuts will reach 12 B, which is more than the 8 B euro proposal rejected by the Greek voters over the weekend. Is 4 B euro the cost of the referendum (with the ensuing bank crisis)?

    • greekreporter has published the text of the final bailout proposal submitted by the Greek government. I have not compared it word-for-word, but it seems to be pretty close to (if not the identical with) the creditors’ proposal of June 26 that was rejected by the referendum last Sunday. For example, the primary budget surplus target is 1%, 2%, 3% and 3,5% over the next 4 years; “reduced” VAT rate of 13% applies to hotels, but not to restaurants and catering, etc.

      In addition, Bloomberg is talking about a loan of at least 53,5 billion euros from the ESM, which the Greek government will use to make IMF and ECB payments over the next three years. Greece also proposes the restructuring of its debt and a package of growth measures of 35 billion euros. (I am not certain whether this amount is included in the 53,5 billion euros loan from the ESM).

  2. Can anybody confirm that version sent to parliament mentions debt relief but the one sent to EU does not? This would be important, as parliament vote on this proposal is supposed to signal to EU a good chance of ratifying the agreement. Any other discrepancies, if any?

  3. Split Personality of the Greek People.

    Greek position ( as well as Portuguese one in lesser degree ) are quite strange.
    It is as if there are 2 greeces.
    The one that does ask for money from Europe, and the other that does claim that the troika should get expelled and Angela is a Nazi ,someone that Greece does not need.
    This is crazy.
    Inside most of the Greeks such split personality does exist !!.
    The europa has been sucking the blood of Greece.
    But Greece does not want to leave europe.

    Why such split personality ? Because deep inside Greeks know that on their own they probably will be in trouble.

    So they want Europe, and Merkel.
    But at the same time things are no good.., so they need a scapegoat , and the scapegoat is Angela.

    • keeptalkinggreece

      Do you know ! single country where all citizens have ONE opinion on any issue?

    • For me it’s understandable that people are split in such a controversial situation.

      I can see that looking at myself. On the one hand, I want to see Greece get out of the current misery and get back some positive prospects, even if it means crossing some “red lines” on both sides. On the other hand, frustration over the negotiation tactics by the current greek government and the unwillingness or inability by previous governments to introduce real reforms, not just cost cutting, on some days makes me want to vote “no” to any new bailout package if there was a referendum in my country.

      I understand that such an internal conflict must be much more intense if you very existence is being threatened.

      IMHO it’s time that the voices of reason prevail over those calling for extreme measures (on BOTH sides!). It’s clear that at this point, there will be no agreement that makes anyone happy. The best outcome would be if there is something that is grudgingly accepted, but prevents a real catastrophe.