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| Greece debt crisis: German finance minister backs Grexit before Bundestag vote on bailout deal that no one believes in | Greece debt crisis: German finance minister backs Grexit before Bundestag vote on bailout deal that no one believes in |
| (about 2 hours later) | |
| The Greek bailout plan is in the lap of the German parliament today as it debates whether or not to pass a third bailout package worth up to €86 million. | The Greek bailout plan is in the lap of the German parliament today as it debates whether or not to pass a third bailout package worth up to €86 million. |
| The vote is expected to pass by a majority, despite the conflicting views of the German Finance minister Wolfgang Schäuble, who advocated on Thursday for Greece to take a temporary leave from the eurozone in return for a cut in debt. | The vote is expected to pass by a majority, despite the conflicting views of the German Finance minister Wolfgang Schäuble, who advocated on Thursday for Greece to take a temporary leave from the eurozone in return for a cut in debt. |
| Schäuble said that a voluntary departure from the eurozone "could perhaps be a better way" for Greece to get back on track than taking a third bailout package in five years. Despite his misgivings, Schäuble will present the package, which was hastily agreed after 17 hours of talks on Monnday, to the Bundestag. | Schäuble said that a voluntary departure from the eurozone "could perhaps be a better way" for Greece to get back on track than taking a third bailout package in five years. Despite his misgivings, Schäuble will present the package, which was hastily agreed after 17 hours of talks on Monnday, to the Bundestag. |
| His lack of faith in the agreement echoed the Greek prime minister Alexis Tsipras, who admitted he had got a 'bad deal' from Brussels on Greek television, a day before the Greek parliament signed up to to make it happen. | His lack of faith in the agreement echoed the Greek prime minister Alexis Tsipras, who admitted he had got a 'bad deal' from Brussels on Greek television, a day before the Greek parliament signed up to to make it happen. |
| Greek Prime Minister Alexis Tsipras reacts during a parliament session in Athens Germany has turned into the bad cop in the battle to keep the eurozone together. Talks grew sour after Tsipras called a snap referendum on June 26. Tsipras reneged on the verdict given by the Greek people, who voted ‘no’ to the package of reforms put to them by Brussels. Just a week later, after talks in Brussels in which bystanders said he was 'crucified', Tsipras said he would make the reforms happen. | Greek Prime Minister Alexis Tsipras reacts during a parliament session in Athens Germany has turned into the bad cop in the battle to keep the eurozone together. Talks grew sour after Tsipras called a snap referendum on June 26. Tsipras reneged on the verdict given by the Greek people, who voted ‘no’ to the package of reforms put to them by Brussels. Just a week later, after talks in Brussels in which bystanders said he was 'crucified', Tsipras said he would make the reforms happen. |
| On Wednesday, the Greek parliament voted through the four reforms Brussels had demanded of Athens to kickstart the bailout process, raising VAT and the retirement age in the process. | |
| While only 64 MPs voted ‘no’ out of a majority ‘yes’ of 229 votes, half of those against were from Tsipras’s Syriza party. He has insisted he will remain as PM, a cabinet reshuffle is expected before July is out. 'Snap' elections could be called as early as September or October. | While only 64 MPs voted ‘no’ out of a majority ‘yes’ of 229 votes, half of those against were from Tsipras’s Syriza party. He has insisted he will remain as PM, a cabinet reshuffle is expected before July is out. 'Snap' elections could be called as early as September or October. |