Greek PM faces revolt after eurozone approves huge bailout

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ATHENS (AFP) – Greek Prime Minister Alexis Tsipras was Saturday battling a major revolt amongst members of his radical-left party who oppose the third huge bailout for the crisis-hit country.

Finance ministers from the 19-member eurozone approved a package late Friday that will see Greece receive 86 billion euros ($96 billion) over three years in exchange for far-reaching pro-market reforms.

The green light for the deal, designed to stop Athens from defaulting on its huge debts and crashing out of the euro, came hours after Greece s parliament voted through the agreement after a bitter all-night debate.

A third of MPs in Tsipras s radical-left party Syriza rebelled against him and he only managed to win the vote with opposition help — prompting fresh expectations that he will be forced to call early elections.

But Tsipras insisted the bailout was in Greece s best interests, saying: “The agreement will advance Greece by making its financial system more stable, starting right now.”

2015-08-16

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