The Greek parliament early this morning voted in favour of the deal that Prime Minister Alexis Tsipras accepted, after gruelling talks in Brussels earlier this week, in order to start progress on a third bailout.
The final tally of 229 to 64 in favour of the deal was decisive, yet many of the “No” votes came from within Tsipras’s own party.
The Syriza-led rebellion gave Tsipras a bloody nose to match those of protesters outside in the fiery streets of Athens, where anti-austerity demonstrations were taking place.
Speaking before parliament last night, Tsipras gave an apologetic explanation for his acceptance of sweeping reforms. “We are called to take decisions based on our responsibility, which lie heavily on us. We gave a struggle and I take full responsibility and I am proud that I have fought a difficult battle for the right of the people. I am sure that this struggle is going to bear fruit at some point,” he said before the vote.
The deal includes austerity measures such as wage and pension reforms, which the Greek people recently voted against in their referendum, in order to set off a third bailout worth close to €86bn and ensure the indebted country does not crash out of the Eurozone.
Further terms include an increase in VAT on all goods and services and a mechanism to restrict further public spending.