Lawmakers in Greece began today debating a third international bailout, ahead of a vote on the 85-billion-euro (USD 94.8-billion) rescue package, on which eurozone finance ministers are to give their verdict tomorrow.
"The timetable is tight so we are forced into this emergency procedure," Gerasimos Balaouras, a lawmaker from the leftist Syriza party of Prime Minister Alexis Tsipras said, kickstarting the debate in parliamentary committees.
Balaouras reminded parliamentarians that Athens had to repay 3.4 billion euros owed to the European Central Bank by August 20 -- and that by adopting the European-International Monetary Fund bailout hoped to unlock default-saving funds on time.
From the committees, the debate will move to a full parliamentary session today evening, with a vote expected during the night.
Better-than-expected growth figures released today gave Tsipras a boost going into the ballot.
National statistics agency estimates showed the economy expanding 0.8 per cent in the second quarter of 2015 -- when debt-laden Greece came dangerously close to crashing out of the eurozone -- compared with the first three months of the year, when it posted zero growth.
Previous estimates by the agency had shown the economy shrinking 0.2 per cent in the first quarter, and EU source predict it will tumble back into recession this year.
During the last two votes on reforms demanded by creditors in exchange for another cash injection, dozens of Syriza lawmakers mutinied, leaving Tsipras relying on the opposition to push through more of the austerity he once vowed vowed to dump.
After weeks of talks, Greece and its creditors reached a technical agreement on the new bailout on Tuesday, but the deal has yet to be approved by eurozone members.
Eurozone finance ministers will meet Friday in Brussels to give their verdict on the 400-page document.
Tsipras has expressed confidence the new plan will carry the day, both in Athens and in other European capitals.
"I am and remain confident that we will succeed in reaching a deal and loan support... That will end economic uncertainty," he said.
Berlin, however, has urged caution.
"We have formulated questions," Germany's finance ministry said in a statement yesterday. "These are part of the review process which is not yet completed.
