Greek lawmakers voted in favour of a deeply contentious bailout package in the early hours of Thursday, clearing the first hurdle towards securing a eurozone rescue but leaving the radical left government weakened.
Prime Minister Alexis Tsipras managed to push through a series of unpopular reforms demanded by the country's international creditors, despite scenes of anger over austerity in Athens, where protesters threw firebombs at police.
But the PM suffered a major mutiny from his lawmakers -- 32 out of 149 voted against the measures, and a further six abstained -- and had to rely on the support of pro-European opposition parties.
A final count showed 229 members of parliament out of 300 voted in favour of the measures, which included sweeping changes to Greece's taxes, pensions and labour rules, with 64 voting against and six abstaining.
But for Greece to secure funds, the agreement must still go before the domestic parliaments of some of the other 19 members of the eurozone, with all eyes in particular on EU powerhouse Germany, which is set to vote on Friday.
Only after that can the tough talks to finalise the long-awaited deal, expected to take much of the summer, begin in earnest.
Eurozone finance ministers were set to hold a conference call on Thursday to discuss the next step in finalising what will be the debt-laden country's third bailout, worth up to 86 billion euros ($94 billion).
'No other option'
Tsipras is facing a broader revolt over the reforms as his left-wing Syriza party came to power in January on anti-austerity promises.
"I had specific choices before me: one was to accept a deal I disagree with on many points, another was a disorderly default," he said in an impassioned speech to parliament before the vote.
"We will not back down from our pledge to fight to the end for the right of the working people," he said, adding that "there is no other option but for all of us to share the weight of this responsibility".
Many of Syriza's hardline leftists voted against the measures, as did former finance minister Yanis Varoufakis, the head of parliament Zoe Constantopoulou and Energy Minister Panagiotis Lafazanis.
The junior ministers of defence and labour also opposed the deal.
It was a bitter victory for Tsipras, who has said he does not believe in the deal, but sees it as the only way of preventing his country from crashing out of the eurozone.
The viability of the bailout has also been called into doubt by the International Monetary Fund, which issued a stark warning that Greece's creditors will have to go "far beyond" existing estimates for debt relief -- an issue eurozone hawks such as Germany have already rejected out of hand.
Greece's finance minister, Euclid Tsakalotos, said during Wednesday's parliamentary debate that his decision to also back the bailout terms was something that "will burden me my whole life".
"I don't know if we did the right thing. I do know we did something we felt we had no choice over," he said.
Tsipras's government also suffered its first resignations, with a junior finance minister and a senior economy ministry official walking out in protest.
'We said No'
The majority of Greeks voted against similar austerity terms in a referendum on July 5, and furious demonstrators threw firebombs at police in front of parliament ahead of the vote.
"Our government is a government of traitors. We voted 'No', then Tsipras signs up to even worse conditions. It's madness," raged unemployed demonstrator Arsenios Pappas.
As police fired tear gas to push back the crowds, a sign held high by protesters read "We said 'No', we meant 'No'".
"He lied to us. So if he has any dignity left he has to resign," said 28-year-old Andronicus Sarlakis.
Under the deal, eurozone governments will contribute between 40 and 50 billion euros, the IMF will contribute another chunk and the rest will come from selling off state assets and from financial markets, a European official said.
Greek assets for privatisation will be parked in a special fund worth up to 50 billion euros, with some 25 billion euros of the money earmarked to recapitalise Greece's banks.
The European Central Bank has been keeping Greek banks afloat with emergency liquidity, but it could be forced to cut off that aid if Greece misses a huge debt repayment due on Monday.
European governments are meanwhile divided over options to help Greece meet its short-term cash needs while it waits for the eurozone bailout deal to be finalised, which will likely take at least four weeks.
The European Commission on Wednesday formally backed a controversial proposal to use an EU-wide crisis fund to cover Greece's short-term cash needs, officials said, setting up a clash with Britain and Germany.
AFP
Wed Jul 15 2015
Greek Prime Minister Alexis Tsipras addresses a parliamentary session in Athens on July 15, 2015. AFP PHOTO / ARIS MESSINIS
Google, Meta urge Australia to delay bill on social media ban for children
Google and Meta says the government should wait for the results of an age-verification trial before going ahead.
Judge tosses Trump 2020 election case after prosecutors' request
It represents a big legal victory for Donald Trump, who won the Nov. 5 US election and is set to return to office on Jan. 20.
DHL plane crash in Lithuania leaves authorities searching for answers
Rescue services said the plane hit the ground, split into pieces and slid over 100 metres (110 yards).
National squad to hold friendly matches for 2025 Indoor Hockey World Cup
The warm-up matches will involve matches against better ranked teams in the world, namely Austria (first) and Belgium (third).
G7 seeks unity on ICC arrest warrant for Netanyahu
The United States, part of the G7, has rejected the ICC decision, with President Joe Biden describing it as outrageous.
Francissca Peter remembers Tan Sri Ahmad Nawab: A tribute to a musical legend
A legend who has influenced our music for decades, was one of the highlights of my career, says Francissca Peter.
TikTok decision coming soon as Jan. 19 divestment deadline looms
Judges are reviewing TikTok's challenge to a law requiring ByteDance to sell its US assets by Jan. 19 or face a ban.
Lebanese sources: Biden, Macron set to announce Israel-Hezbollah truce
In Washington, White House national security spokesperson John Kirby said, "We're close" but "nothing is done until everything is done".
PM meets chaebol tycoon to attract more FDI to Malaysia
Chaebols are prominent figures from South Korea's family-owned conglomerates.
Govt won't allow non-citizen vehicles to enjoy RON95 subsidy - Economy Ministry
The implementation of the RON95 subsidy in 2025 is expected to provide savings of RM3.6 billion to government expenditure.
Ringgit opens lower as greenback gains ground
Dr Mohd Afzanizam says the market responded positively to news of hedge fund manager Scott Bessent heading the US Treasury Department.
Management of low-cost housing, gov't quarters, focus at Dewan Rakyat today
Also among the highlights, UNICEF report on 12.3pct of teenagers in Klang Valley's PPR face mental health issues and suicidal tendencies.
UN Resolution 1701, cornerstone of any Israel-Hezbollah truce
Here are the resolution's main terms, and a note about subsequent violations and tensions.
Record aid worker deaths in 2024 in 'era of impunity', UN says
So far this year there have been 281 aid worker victims, according to the Aid Worker Security database.
Why India's toxic farm fire counting method is disputed
Here's how India counts farm fires - a major contributor to severe pollution in the north - and why its method is being questioned.
Divisions on curbing plastic waste persist as UN treaty talks begin
South Korea is hosting the fifth and ostensibly final UN Intergovernmental Negotiating Committee (INC-5) meeting this week.
Transport Ministry to study proposal for senior citizen licence renewal assessments - Loke
The Transport Ministry will review a proposal requiring senior citizens aged 65 and above to undergo competency and health assessments before renewing their Malaysian Driving Licence.
PM encourages South Korean investors to explore opportunities in Malaysia
Prime Minister Datuk Seri Anwar Ibrahim has welcomed investors from South Korea to explore the various opportunities available in Malaysia.
South Korea prosecutors seek 5-year jail term for Samsung Elec chief in appeals case
Prosecutors allege Jay Y. Lee prioritised personal gain as Samsung's de-facto leader during the merger, harming shareholders and investors.
[COLUMNIST] Vaping: Behind the smokescreen of smoking cessation and healthier alternative
The existence of e-cigarettes seems to have merely shifted users from one addiction to another from traditional cigarettes to e-cigarettes.