Greek parliament endorses last "prior actions"

President of Eurogroup and Prime Minister of Luxembourg Jean-Claude Juncker attends a press conference after a night discussion of Eurogroup finance ministers on the second bailout plan for Greece, in Brussels, capital of Belgium, Feb. 21, 2012. (Xinhua/Wu Wei)

Greek parliament endorsed on Monday evening a bill containing the so-called last "prior actions" requested from international lenders before the release of the next bailout tranche to Athens in the framework of efforts to overcome the debt crisis.

With the support of the three parties participating in the conservative-led coalition government, the bill passed with 166 votes with 290 legislators present in the 300-member strong parliament.

The omnibus bill includes seven laws ranging from amendments on the legal context of the bailout deals with European Union and International Monetary Fund lenders to the introduction of stricter fiscal control over ministries budgets.

The new law also paves the way for legal indemnity from potential shareholder lawsuits to bankers under the recent voluntary Greek debt buyback scheme which further eased the country's debt load.

In addition, it details the terms of the deregulation of a series of professions and markets, such as the licensing for taxi drivers and introduces fresh cutbacks on the wages and pensions of the parliament's personnel.

The ratification of the these "prior actions", after the approval of the new tax bill last week, was one of the creditors' prerequisites before the disbursement of the next 9 billion euro (12.03 billion U.S. dollars) bailout financing this winter.

The government pushed for a positive result Monday to coincide with the Euro Working Group's preparatory meeting ahead of the next Euro Group meeting next week which will decide on the next steps to be made to support Greece's efforts to avert default and return to grow.

During Monday's debate at the plenary, several opposition parties deputies voiced strong reservations over the bill, in particular the amendments to the bailout agreements, arguing that Greece risks losing its national sovereignty.

Government officials strongly rejected the notion as "exaggeration", reassuring that Greece does not face the prospect of losing control over its wealth and assets, such as the Acropolis, under the bailout agreements signed with international lenders.

Enduring five years of recession, Greece was asked to make tough austerity reforms in exchange for bailout from its international creditors.