Spain PM to submit Greek debt deal to parliament

Spain’s Prime Minister Mariano Rajoy said Wednesday he will submit the eurozone deal on Greece’s debts to parliament to ensure support for his country’s multi-billion-euro contribution.

“Although this procedure is not obligatory in our country, it is my intention to bring the deal before parliament to be debated, because it is a big sum that Spanish taxpayers are being asked to guarantee,” Rajoy told the lower house.

He gave no date for the possible debate in parliament, where his conservative Popular Party has an absolute majority that has enabled him to push through tough austerity policies unhindered.

Rajoy has said that Spain would contribute about 12 percent of Greece’s third bailout package, which could be worth up to 86 billion euros ($95 billion) overall.

Greece’s eurozone creditors on Monday persuaded its left-wing Prime Minister Alexis Tsipras to accept tough conditions for a fresh bailout to save Greece from financial collapse.

Having resisted new austerity measures during six months of tense negotiations, Tsipras now has to introduce tough conditions on labour and pension reforms, taxes and privatisations.

Rajoy on Monday hailed it as “a balanced agreement” that he said could help heal Greece’s economy and strengthen the eurozone.

Opposition political groups branded the debt deal a coup against the Greek people.

Rajoy added on Wednesday: “Much time has been lost. It is time for the Greek government to show some sense.”