Home Economy Greek parliament passes second crucial bailout bill

Greek parliament passes second crucial bailout bill

Athens : The Greek parliament early Thursday passed a bill on a second batch of reforms in line with an international bailout for Greece’s sluggish economy.

The bill includes civil justice reforms, a bank deposit protection scheme and measures to boost the liquidity of banks. It was favoured by a clear majority, with 230 votes in favour out of 298 deputies taking part in the roll call vote, reported Xinhua.

On the other hand, 63 parliamentarians in the 300-member strong assembly voted against the bill and five others abstained.

The legislation was requested by international lenders in order to finalise the third bailout and avert default and Grexit or a Greek exit from the eurozone.

The plenary approved the bill that ratifies an EU directive to guarantee bank deposits of up to 100,000 euros in cases of failed banks as well as a civil justice reform designed to reduce time and costs in legal proceedings.