Greek Main Opposition To Vote Against Austerity Measures, Bailout
May 06 2010 - 10:31AM
Dow Jones News
Greece's main opposition party will vote against austerity
measures in the bailout bill, even though its leader Antonis
Samaras conceded they agree on some measures and respect the
deal.
"These measures are a wrong policy mix that will send the
country into dead end of deeper recession and even more austerity
to come," Samaras said. "This medicine can kill the patient."
Samaras, leader of the conservative New Democracy Party was
speaking in Parliament ahead of a vote on the bill due Thursday
afternoon.
Samaras said the ruling socialist PASOK had turned the debt
crisis into a borrowing crisis and now Greece is under the control
of foreign organizations in exchange for a EUR110 billion aid deal
from the International Monetary Fund and the European Union.
"Out of the EUR30 billion of cuts over the next four years that
are mandated under the bill, EUR11 billion has yet to be outlined
so we don't know what we are voting on," Samaras said. "New
austerity measures may come and we won't give a blank check for
them."
He also criticized the government's lack of measures for
economic stimulus, its lack of consideration of privatization, nor
the utilization of state real estate holdings which could total
EUR300 billion, roughly equivalent to the national debt.
The conservative leader said his party agreed on some of the new
measures, such as support for poorer social classes, support for
banking system liquidity and hiking excise taxes on cigarettes and
alcohol.
The New Democracy leader conceded that given PASOK's safe
parliamentary majority the bill would pass, so there was no
absolute need for his party to vote for it.
"The Greek state has continuity and we will respect and
guarantee any agreement taken today and can assure that the funds
will be paid back," Samaras said.
-By Nick Skrekas, contributing to Dow Jones Newswires; +30 210
2830 685; nskrekas@trk.forthnet.gr