Latest News:  


Greek parliament endorses last "prior actions" before release of next bailout tranche


16:20, January 15, 2013

ATHENS, Jan. 14 (Xinhua) -- Greek parliament endorsed on Monday evening a bill containing the so-called last "prior actions" requested from international lenders before the release of the next bailout tranche to Athens in the framework of efforts to overcome the debt crisis.

With the support of the three parties participating in the conservative-led coalition government, the bill passed with 166 votes with 290 legislators present in the 300-member strong parliament.

The omnibus bill includes seven laws ranging from amendments on the legal context of the bailout deals with European Union and International Monetary Fund lenders to the introduction of stricter fiscal control over ministries budgets.

The new law also paves the way for legal indemnity from potential shareholder lawsuits to bankers under the recent voluntary Greek debt buyback scheme which further eased the country's debt load.

In addition, it details the terms of the deregulation of a series of professions and markets, such as the licensing for taxi drivers and introduces fresh cutbacks on the wages and pensions of the parliament's personnel.

The ratification of the these "prior actions", after the approval of the new tax bill last week, was one of the creditors' prerequisites before the disbursement of the next 9 billion euro (12.03 billion U.S. dollars) bailout financing this winter.

The government pushed for a positive result Monday to coincide with the Euro Working Group's preparatory meeting ahead of the next Euro Group meeting next week which will decide on the next steps to be made to support Greece's efforts to avert default and return to grow.

During Monday's debate at the plenary, several opposition parties deputies voiced strong reservations over the bill, in particular the amendments to the bailout agreements, arguing that Greece risks losing its national sovereignty.

Government officials strongly rejected the notion as "exaggeration", reassuring that Greece does not face the prospect of losing control over its wealth and assets, such as the Acropolis, under the bailout agreements signed with international lenders.

Enduring five years of recession, Greece was asked to make tough austerity reforms in exchange for bailout from its international creditors.

We recommend:

Nudists rally for right to bare it all

Unforgettable moments you cannot miss in December

Bloody scenery of shark hunting

Sao Paulo faces hot weather in January

Finland celebrates Epiphany with slide show

Children taking cold-resistant exercise


Leave your comment0 comments

  1. Name


Selections for you

  1. Carrier-based aircraft unit in flight training

  2. J-10 fighters over E. China Sea

  3. Countries with the cleanest air

  4. Chengdu braces for holiday travel rush

  5. The strongest left-behind children

  6. Heavy fog envelops Chinese cities

  7. North American auto show kicks off in Detroit

  8. Food and flower festivals

  9. Have fun picking strawberries in Jinshan

  10. Cartoon image of China's provinces

Most Popular


  1. Highlighting the skills you need in a changing China
  2. Will there be another Liu Xiang in China?
  3. Heavy smog reveals generation gap
  4. A very rash act by the US
  5. Message of caution for Japan
  6. Adding mortar to the BRICS
  7. Children without parents still lack help, protection
  8. Philippines moves in wrong direction
  9. Drinking water safety is not a simple problem
  10. Japan's envisaged 'warning shots' dangerous

What’s happening in China

Extinction of river dolphin: What does it mean for the Yangtze River?

  1. Lantern on sale to welcome Spring Festival
  2. China maintains family planning policy
  3. Beijing starts publishing tap water quality
  4. Such 'evasion' is a shame of education
  5. Snow eases air pollution in Beijing, more or less