Greece's Tsipras to sell austerity deal to reluctant party

ATHENS, Greece (AP) — Left-wing Greek Prime Minister Alexis Tsipras sought his party's backing for a harsh new austerity package Friday to keep his country in the euro — less than a week after urging Greeks to reject milder cuts in a referendum.

Government ministers signed off on the sweeping new measures — likely to extend the recession after six years of painful decline — that include pension cuts and tax hikes. In exchange, Greece wants a three-year financial support program worth nearly $60 billion and some form of debt relief.


A bank employee distributes queue positions to pensioners as they wait outside the main gate of the national bank of Greece to withdraw a maximum of 120 euros ($134) in central Athens, Friday, July 10, 2015.

The measures were sent to rescue creditors who will meet this weekend to decide whether to approve them. The proposed new bailout would be Greece's third since it lost access to financing from bond markets in 2010.

In an unusual procedure, Tsipras is first seeking authorization from parliament to negotiate with the creditors based on the proposal in a vote Friday. He is essentially asking his Syriza party to sign off on the U-turn despite more than 60 percent of voters opposing more austerity in the July 5 referendum.

http://apnews.excite.com/article/20150710/eu--greece-bailout-06c2f01233.html

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If I was one of those poor, duped and hapless Greek voters, and I woke up to this morning's news, my reaction would be a big: