This article is from the source 'bbc' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at http://www.bbc.co.uk/news/world-europe-33546352
The article has changed 15 times. There is an RSS feed of changes available.
Version 4 | Version 5 |
---|---|
Greece debt crisis: Eurozone funding talks start | |
(35 minutes later) | |
Talks between eurozone ministers on emergency funding to keep Greek banks afloat have begun, hours after the Greek parliament passed tough reforms required for a third bailout deal. | Talks between eurozone ministers on emergency funding to keep Greek banks afloat have begun, hours after the Greek parliament passed tough reforms required for a third bailout deal. |
The Eurogroup was also due to discuss next steps in negotiating the bailout. | The Eurogroup was also due to discuss next steps in negotiating the bailout. |
The Greek government is expected to survive, despite losing its majority after 38 MPs voted against the reforms. | The Greek government is expected to survive, despite losing its majority after 38 MPs voted against the reforms. |
Later, the European Central Bank is to consider easing a funding squeeze on Greek banks, allowing them to reopen. | Later, the European Central Bank is to consider easing a funding squeeze on Greek banks, allowing them to reopen. |
Greece is facing an immediate cash crisis, with banks there closed for more than two weeks. | Greece is facing an immediate cash crisis, with banks there closed for more than two weeks. |
The European Commission has proposed giving Greece a €7bn (£5bn) "bridging" loan from an EU-wide fund to help the government pay its mounting debts. | The European Commission has proposed giving Greece a €7bn (£5bn) "bridging" loan from an EU-wide fund to help the government pay its mounting debts. |
Eurozone ministers have agreed in principle to extend the loan to Greece, according to an unnamed official speaking to Bloomberg. The loan will be announced on Friday after national parliaments have voted on the bailout deal, the official added. | |
Read the latest updates | |
Eurozone leaders agreed on the bailout in principle in Brussels on Monday, on the condition that the Greek parliament passed reforms on taxation increases and pension curbs by Wednesday. | |
Greek Prime Minister Alexis Tsipras won the parliamentary vote by 229 votes to 64, but needed the support of opposition MPs to do so. | |
Finnish mandate | |
It paves the way for eurozone finance ministers to open detailed talks on the bailout, worth up to €86bn. | |
Finland's parliament on Thursday approved the bailout talks - one of a number of eurozone states which require a mandate from their own parliament for Greece to secure new funds. | |
Germany's parliament is due to vote on the deal on Friday. | |
Analysis: Gavin Lee, Europe reporter, Athens | Analysis: Gavin Lee, Europe reporter, Athens |
"Greece is being treated like a modern-day Sisyphus. We'll be forever rolling the rock of austerity," one protester told me outside parliament, before the demonstration turned violent. | "Greece is being treated like a modern-day Sisyphus. We'll be forever rolling the rock of austerity," one protester told me outside parliament, before the demonstration turned violent. |
There were glimpses of Greece at its ugliest on the streets. Petrol bombs were thrown at police lines, a TV satellite truck set alight, and police fired tear gas and stun grenades into the crowd. | There were glimpses of Greece at its ugliest on the streets. Petrol bombs were thrown at police lines, a TV satellite truck set alight, and police fired tear gas and stun grenades into the crowd. |
It lasted no more than half an hour, but given the level of bitterness here, the fear is that these scenes are more likely in future. | It lasted no more than half an hour, but given the level of bitterness here, the fear is that these scenes are more likely in future. |
Inside parliament, the political reluctance to pass these measures was clear. MP after MP spoke in a late-night debate, criticising and cursing the deal. But the majority voted to accept the measures, feeling the alternative was too bleak to risk. | Inside parliament, the political reluctance to pass these measures was clear. MP after MP spoke in a late-night debate, criticising and cursing the deal. But the majority voted to accept the measures, feeling the alternative was too bleak to risk. |
The result has come at a price for Mr Tsipras. Reports here suggest a government reshuffle is on the cards in a few hours' time, with dissenting cabinet ministers to be replaced by those "on message" with their leader's position. | The result has come at a price for Mr Tsipras. Reports here suggest a government reshuffle is on the cards in a few hours' time, with dissenting cabinet ministers to be replaced by those "on message" with their leader's position. |
Passionate opposition came from within Mr Tsipras's own Syriza party, with parliamentary speaker Zoe Constantopoulou calling the measures "social genocide". | |
Former Finance Minister Yanis Varoufakis was another vocal opponent. | Former Finance Minister Yanis Varoufakis was another vocal opponent. |
In his address to parliament Mr Tsipras said: "I acknowledge the fiscal measures are harsh, that they won't benefit the Greek economy, but I'm forced to accept them." | In his address to parliament Mr Tsipras said: "I acknowledge the fiscal measures are harsh, that they won't benefit the Greek economy, but I'm forced to accept them." |
'The easy part' | 'The easy part' |
Since capital controls were imposed and the banks shut on 29 June, Greeks have been limited to withdrawing €60 a day. | |
German Finance Minister Wolfgang Schaeuble, known for his hardline approach, told national radio he would submit a request for parliament to reopen negotiations on the third bailout with "full conviction". | German Finance Minister Wolfgang Schaeuble, known for his hardline approach, told national radio he would submit a request for parliament to reopen negotiations on the third bailout with "full conviction". |
But he also said he believed a temporary "Grexit" - Greece leaving the eurozone - would perhaps be a better option. | But he also said he believed a temporary "Grexit" - Greece leaving the eurozone - would perhaps be a better option. |
Meanwhile Slovakia's Finance Minister Peter Kazimir said in a tweet he welcomed "the positive vote" but said "this is the easier part of the deal". | Meanwhile Slovakia's Finance Minister Peter Kazimir said in a tweet he welcomed "the positive vote" but said "this is the easier part of the deal". |
By 22 July, Greece must also commit to a major overhaul of the civil justice system. It has to agree to more privatisation, to review collective bargaining and industrial action, and make market reforms, including Sunday trading. | By 22 July, Greece must also commit to a major overhaul of the civil justice system. It has to agree to more privatisation, to review collective bargaining and industrial action, and make market reforms, including Sunday trading. |
The vote in the early hours of Thursday approved: | The vote in the early hours of Thursday approved: |
Opponents of the bailout measures took to the streets of Athens in mainly peaceful protests ahead of the vote on Wednesday. However, one group threw petrol bombs at police officers who responded with tear gas. | Opponents of the bailout measures took to the streets of Athens in mainly peaceful protests ahead of the vote on Wednesday. However, one group threw petrol bombs at police officers who responded with tear gas. |
Unions and trade associations representing civil servants, municipal workers and pharmacy owners also went on strike on Wednesday. | Unions and trade associations representing civil servants, municipal workers and pharmacy owners also went on strike on Wednesday. |