Britain is not alone in its refusal to help.
‘The European Commission has agreed these changes will be legally binding.’.
“This was a necessary step for the country to emerge from the dead ends that had been created in the last few years”, he said.
In wake of the current crisis situation, the Greek government must meet all requirements by implementing stringent and bulky reforms in order to stabilize the country’s economic situation, as well as to fix its finance sector.
Arriving in Parliament, Valavani said she was not going to vote in favor of the agreement, and that this meant she could not stay on as part of the government.
The new bailout deal fuelled anger among Greek prime minister Alexis Tsipras’ party, with promiment members inclduing energy minister Panagiotis Lafazanis and former finance minister Yanis Varoufakis voting against the austerity bill.
The European Commission’s proposal to use EFSM sparked fears that United Kingdom taxpayers could be left liable for a bill running into hundreds of millions of pounds if Greece defaulted – something which Mr Osborne described as a “complete non-starter”.
While this option would allow for a quick disbursement to Greece, officials have cautioned it will be hard to get the green-light from non-eurozone governments, which want to steer clear of any further eurozone bailouts.
But in 2010 a promise was made to the United Kingdom that the EFSM would not be used for Eurozone bailouts and would be replaced by the European Stability Mechanism, which is only funded by countries in the Eurozone.
European Union Commission spokeswoman Annika Breidthardt said in Brussels that the Greek parliament “has spoken with a very loud voice”. The EFSM loans will then be repaid with the money from ESM disbursements.
Domvrovskis adds that the Commission is looking for guarantees to protect non-euro nations on such a loan. This is, as the French say, an important amount of money.
Dijsellbloem says ministers are looking at all possible instruments and funds but all have “disadvantages or impossibilities or legal objections”.
He is scheduled to visit Greece November 30 to December 7.
Losing Greece, he said, would have been akin to losing “the heart of our civilization”. They will provide quick funding for Greece.
Greece’s banks, which have been shut for two weeks, were still closed on Monday and limits remained on cash withdrawals. Credit and debit card payments within the country are allowed, as are electronic banking transactions within the country.
“Sorting out the problems of the eurozone, which we have always warned about the dangers of this eurozone, is a matter for eurozone countries”.
Greece on Monday agreed on a preliminary rescue deal with its fellow eurozone partners.
He announced the measure during a parliamentary debate on the recent European Union summit.
Tsipras argues that because of these concessions Monday’s deal is, despite the tough austerity, actually better for Greece than the proposals Greeks voted down just a week ago.
“It’s too early to tell if this deal will work, but I’m skeptical”.