The Greek parliament approved the “prior actions” that were required according to the aGreekment. This opens the dollar for a bridge loan that opens the road for a third program. Former finance minister Yanis Varoufakis, outspoken leftist Lafazanis and the parliament speaker voted against the deal. and so did a growing number of the ruling party’s members.
Around 40 members did not support PM Tsipras. Most of them, 32, voted against the agreement,6 abstained and 2 didn’t show up. The bad agreement was always poised to fail, but this is a very early warning sign.
The vote in general was 228 for and 64 against.
The Eurogroup will convene tomorrow at to verify and approve that Greece fulfilled its commitment. In addition, the ECB will discuss the Emergency Liquidity Assistance to banks. The ECB has the keys to reopening the banks it closed.
PM Alexis Tsipras eventually made it to parliament and explained he had 3 choices:
- The agreement
- A hard default
- Schaeuble’s plan for a Grexit.
However, many blame Tsipras for the way he negotiated, especially from the moment of victory in the Greferendum.
While the measures were expected to easily pass thanks to support from many opposition parties, the open question was about the support with the ruling SYRIZA party. Alexis Tsipras faces a challenged.
This has been a long day for Greece, that has seen some government officials resign and the speaker of the parliament stepping aside. She did not want to manage this discussion. In addition, protest were held in Syntagma Square in front of parliament.
EUR/USD was trading on low ground around 1.0950 towards the late vote and is a few pips higher. The approval was expected.Get the 5 most predictable currency pairs