Greek debt crisis: Greek MPs back Alexis Tsipras’ bailout plan
Lawmakers in Greece voted in the early hours of the morning to back the government’s proposals in order to unlock new funds from creditors.
The Greek parliament has overwhelmingly accepted the government package of economic reforms which aim to end the country’s debt crisis.
Greek Prime Minister won cross-party support in the vote, saying he now has a “strong mandate to complete the negotiations to reach an economically viable and socially fair agreement,” and end the ongoing dispute.
While Tspiras needed the support of the opposition to win, some of his MPs, however, withheld support as the package contained some austerity measures, including spending cuts and tax rises worth more than €12bn.
After all votes were counted, 251 voted “Yes”, 32 voted “No” and eight MPs abstained.
Read more: Where is Yanis Varoufakis as the Greek parliament votes?
"The priority now is to have a positive outcome to the negotiations," Mr Tsipras said in a statement after the vote. "Everything else in its own time."
Eurozone finance ministers will now discuss the Greek requests for some of the debt to be restructured. France has already welcomed the plan, but Germany is still believed to have serious doubts.
The finance ministers will decide if the new proposals from the Greek government is favourable enough to allow formal talks on a third bailout to beigin. Tspiras is asking the creditors for €53.5bn to cover the country’s debts until 2018.
Tsipras has given in to some of the creditors' demands (Source: Getty)
Tsipras has compromised by accepting reform to pensions, tax rises and privatisation – all meaures that were rejected in a referendum last Sunday.
If the Eurozone does not accept the proposals, Greek banks will run out of money in days and push the country towards an exit from the euro.
Tsipras said that the bailout deal “entails many proposals that are far from our pledges,” but is “marginally better” than what was put forward by creditors last month.