Greece Lawmakers Back Austerity Plan

Bailout is on track again, though IMF now has concerns
By John Johnson,  Newser Staff
Posted Jul 15, 2015 7:24 PM CDT
Greece's Prime Minister Alexis Tsipras, right, and Finance Minister Euclid Tsakalotos at the parliament meeting in Athens.   (AP Photo/Thanassis Stavrakis)

(Newser) – Greece keeps inching toward its convoluted bailout: Lawmakers have approved an austerity package demanded by European creditors, reports Reuters. This time, Prime Minister Alexis Tsipras endorsed them, despite having championed a referendum that shot down a similar package less than two weeks ago. He had to face down a revolt in his own party, and his former finance minister, Yanis Varoufakis, was among the 38 dissenters, reports AP.

One major hurdle remains, reports the New York Times. The International Monetary Fund said yesterday that it makes little sense to give Greece yet another loan without substantial debt relief—perhaps even a 30-year grace period, notes the Washington Post. Germany and other nations strenuously object to that, but the IMF position is increasing pressure on them to bend, "providing some hope to Greeks that they will have a new ally in debt talks," says the Times.

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