BUSINESS

Greek Parliament Approves Another Bailout After All-Night Session

08/14/2015 11:32 EDT | Updated 08/14/2016 05:59 EDT
ASSOCIATED PRESS
FILE - In this Monday, June 8, 2015 file photo, Greece's Prime Minister Alexis Tsipras leads a meeting with Palestinian foreign minister Riyad Al-Maliki at Maximos Mansion in Athens. Under Alexis Tsipras, Greece slid back into recession, sank deeper into debt and saw unemployment spike. Then after rejecting one painful bailout deal, the radical left leader agreed to a new one with arguably equally harsh terms. It wouldn’t be surprising to find Greeks calling for his head by now. But the telegenic prime minister is more popular than ever _ testament to how his defiance of Europe has struck a chord with a nation fed up with sacrifices imposed from outside. (AP Photo/Thanassis Stavrakis, File)
ATHENS, Greece (AP) — Greek lawmakers have approved their country's draft third bailout in a parliamentary vote that relied on opposition party support and saw the government coalition suffer significant dissent.

Friday morning's vote came after a marathon all-night session marked by procedural delays and acrimonious debate over the three-year, about 85 billion-euro ($93 billion) rescue package that includes harsh spending cuts and tax hikes.

Prime Minister Alexis Tsipras has come under intense criticism from hardliners within his own radical left Syriza party for capitulating to creditor demands to introduce the austerity measures, many of whom voted against the bill. The discord is threatening to split his party and could lead to early elections.

Greece needed to pass the bill ahead of a meeting of eurozone finance ministers' meeting in Brussels Friday afternoon.

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