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Text of agreement with creditors submitted for Greek parliament vote

Update: August, 12/2015 - 10:00

ATHENS — The Greek parliament has tabled a crucial vote on the text of an international bailout agreement between Athens and its creditors, the parliament said on its website.

Prime Minister Alexis Tsipras late on Tuesday asked the parliament's president to call in MPs for a vote on Thursday, after the Greek government announced it had reached the outline of a rescue package worth 85 billion euros (US$94 billion) to save its stricken economy from collapse.

Greece and its creditors – the EU, the European Central Bank, and the International Monetary Fund – are under pressure to finalise the deal by August 20 when Athens must repay some 3.4 billion euros to the ECB.

The bailout would be in exchange for Greece imposing fiscal and other policy measures including a gas market overhaul, the removal of most early retirement schemes, the elimination of fuel price benefits for farmers, and an increase in some taxes.

The European Commission said on Tuesday Athens and its creditors had reached a technical agreement "in principle" on a bailout – the third for the debt-crippled country since 2010 – after marathon talks stretching into the early hours.— AFP

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