Greek MPs back austerity measures in return for €86bn bailout

Prime Minister Alexis Tsipras managed to push through a series of unpopular reforms demanded by the country’s worldwide creditors, while on the streets of Athens anti-austerity protests turned raging as protesters threw firebombs at police.

“I had a choice between a deal I did not agree with, or a disorderly default, or Schauble’s choice of euro exit”, said Tsipras, referring to the German finance minister’s wish to kick Greece out of the currency bloc.

Many analysts believe that Tsipras would be able to garner the numbers as numerous opposition parties would support the bailout but the government’s political survival is in danger as many of its lawmakers could openly vote against the bill or resign from their seats which would be seen as a negative.

Ahead of the parliamentary voting session, protesters gathered in Athens’ Syntagma Square, throwing molotov cocktails and clashing with police.

But some members of his party had argued earlier that more austerity betrayed all that the party stood for and could not be accepted, especially after 60 per cent of Greek voters had already rejected less harsh terms in a referendum just 10 days before. According to Greek media reports, about 30 Syriza deputies may vote against the debt deal and the first set of taxation and pension system reforms.

Yanis Varoufakis, who stepped down as finance minister on July 6, also voted against the bailout package after writing a scornful blog dismissing the deal earlier. “But if something unexpected comes up, we don’t know how we will handle it. There is a sense of insecurity”.

Fresh polls published late Tuesday by Kapa Research, however, found 72 percent of Greeks surveyed thought the deal was necessary, with the majority blaming Europe for the “tough measures”. In a news conference following the ECB’s regular policy meeting, Draghi said the European Central Bank agreed on Thursday to increase that credit amount by 900 million euros over one week.

Anti-austerity demonstrators shout slogans during a protest in central Athens on Wednesday.

A new Greek bailout will take about a month to complete but the country’s financial state is dire.

The speaker of the Parliament described what had been put upon Greece as a “crime against humanity” – a “social genocide”.

“The fund’s decision to go public with its stance suggested that the draft agreement would be only the starting point for further negotiations about the sustainability of Greece’s debt and the willingness of its lenders to recognize they might not get all their money back”.

Petrol bombs were hurled at police who used tear gas on the crowd of thousands outside Greece’s parliament.