Athens, Greece (BBN)-Greece’s parliament has backed a government package of economic reforms aimed at ending the country’s debt crisis and securing a new bailout.
After a late-night debate, PM Alexis Tsipras won overwhelming cross-party support but saw some of his own MPs vote against him or abstain, reports BBC.
Earlier, he admitted that some elements of the package fell short of his party’s anti-austerity promises.
The proposals are to be studied by eurozone finance ministers later.
EU sources says Greece’s creditors – the European Commission, the European Central Bank and the International Monetary Fund – believe the plan is positive.
Eurozone officials are also expected to discuss Greek requests for some of the debt to be rescheduled.
In total, 251 MPs voted “Yes”, 32 voted “No” and eight called “Present” – effectively abstaining. Nine deputies were absent.
Among the members of Tsipras’s own Syriza party who abstained were Parliament Speaker Zoe Constantopoulou and Energy Minister Panagiotis Lafazanis.
Tsipras is asking for €53.5bn ($59.47bn) to cover Greece’s debts until 2018.
In return, he has given in to demands for a pension overhaul, tax rises and privatisations – measures rejected in a referendum last Sunday.
Greek banks are days away from running out of money and unless a deal is struck the country faces exiting the euro.
The BBC’s Mark Lowen in Athens says the Greek reform package is a major climbdown for the prime minister, whose radical left-wing Syriza party was elected on a strong anti-austerity platform.
In his address to MPs, Tsipras admitted that his government had made mistakes but he said the new proposals offered the best possible deal for Greece.
11 JULY: Eurozone finance ministers discuss plans (Brussels 13:00 GMT)
12 JULY: Eurogroup leaders meet (14:00 GMT) followed by summit of all 28 members of the European Union (16:00 GMT). Both Brussels
20 JULY: €3bn payment due from Greece to the European Central Bank
He described the lengthy negotiations with the creditors as “a battle”.
“Now I have the feeling we’ve reached the demarcation line. From here on there is a minefield.”
Tsipras said the bailout deal “entails many proposals that are far from our pledges” but he added it was “marginally better” than the proposals put forward last month by creditors.
He said there was a “national duty to keep our people alive and in the eurozone”.
The Eurogroup – eurozone finance ministers – is due to discuss the reforms at 1300 GMT and a meeting of eurozone heads of government is scheduled for Sunday afternoon.
That will be followed by a full EU summit two hours later.
tax rise on shipping companies
unifying VAT rates at standard 23 per cent, including restaurants and catering
phasing out solidarity grant for pensioners by 2019
€300m ($332m; £216m) defence spending cuts by 2016
privatisation of ports and sell-off of remaining shares in telecoms giant OTE
scrapping 30 per cent tax break for wealthiest islands