ATHENS, Greece – Greek lawmakers held a whirlwind debate into the early hours Thursday on further reforms demanded by international creditors in return for a third multibillion-euro bailout, with attention focusing on government rebels who oppose the measures.
Despite the revolt in Prime Minister Alexis Tsipras’ own party, parliament is expected to approve the draft legislation in the second such crucial vote in a week – and again with broad support from pro-eurozone opposition parties. Failure to do so would derail the bailout and rekindle fears over Greece’s future in the shared euro currency.
As with last week’s vote, Tsipras’ main problem lies with hard-line lawmakers in his party, many of whom see the reforms as a betrayal of the anti-austerity platform that brought their Syriza party to power in January.
Addressing parliament, Tsipras said the reforms were a necessary price to pay to keep Greece alive after stormy talks with its creditors nearly collapsed earlier this month.
“We have chosen a compromise that forces us to implement a program in which we do not believe, and we will implement it because the alternatives are tough,” he told lawmakers. “We are summoned today to legislate under a state of emergency.”
Tsipras also ruled out resigning.
“The presence of the left in this government isn’t about the pursuit of office, it’s a bastion from which to fight for our people’s interests,” he said. “And as far as I’m concerned, I won’t abandon this bastion, at least of my own free will.”
Tsipras said approval would give Greece breathing room to quash speculation that the country will be forced to abandon the euro and help it regain market confidence and eventually tap bond markets again.
Before the debate got underway, about 10,000 people demonstrated outside parliament, protesting the latest measures to overhaul Greece’s judicial and banking sectors. Minor violence marred the end of the protest when a few teenagers threw petrol bombs at riot police, but no injuries or arrests were reported.
Negotiations with creditors are expected to start soon after the latest package of reforms is approved.
The radical left-led government hopes the new bailout talks can conclude before Aug. 20, when Greece must repay a debt worth more than 3 billion euros ($3.3 billion) to the European Central Bank.
On Wednesday, the ECB provided a new vital cash injection to Greece’s battered banks. A European banking official told The Associated Press the ECB decided to increase emergency liquidity to Greek banks by $980 million – the second such cash injection in just under a week.
