Greek Financial Reform

Greek Financial Reform3 posts
23 Jul, 2015

Passes final reforms

Makes Statement

Parliament overwhelmingly approves new reforms centered around creditor-demanded debt. These reforms to the judiciary and banking systems were the last ones Greece was obligated to solve before being able to begin talks with creditors on a third bailout agreement. Without the new bailout money worth around $93 billion Greece could wind up financially ruined. Prime Minister Tsipras:

We have chosen a compromise that forces us to implement a program in which we do not believe, and we will implement it because the alternatives are tough. We are summoned today to legislate under a state of emergency.

22 Jul, 2015

Financial crisis worsens immigration crisis

Since the start of the year 79,338 immigrants, the majority Syrian, have come to Greece. As the financial crisis grows worse there is no help from already overwhelmed communities when they arrive. As a last resort many are moved detention camps with limited electricity, food and water. Official:

Unless there is a change very rapidly in capital control, we are afraid we will see an increase in the deterioration of the situation.

10 Jul, 2015

Parliament backs reform negotiations

Makes Statement

Greek parliament imageA Syriza party spokesman says the Greek parliament will give a mandate to government encouraging full negotiations with creditors. The focus will be on a cash for reforms agreement. Prime Minister Tsipras will request support on July 10 to negotiate “prior actions” which refer to measures his party will use to convince creditors of their commitment for an aid deal. When asked if the parliament believed there would be a deal, the spokesman says:

Certainly. Today we are speaking in parliament.

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