European equities are expected to open higher on Thursday as the Greek parliament has approved the Prime Minister Alexis Tsipras' reform plan.
The package was approved with 229 votes in the 300-seat chamber. There were 64 votes against it and six abstentions, reported Reuters. As expected, dozens of hardliners within Tsipras' party voted against the bailout, including the former finance minister Yanis Varoufakis. The 86 billion euro bailout demands that Greece makes vast spending cuts and tax rises.
Tsipras reiterated his opinion that imposed by creditors restrictive measures are severe and will not benefit the Greek economy, but was forced to accept them. Today Tsipras will start consultations to change many ministers, in fact in this way, a new cabinet would be formed.
Today are expected important news for the Eurozone: 12:00 Trade Balance; 14:45 Decision of the European Central Bank on interest rates; 15:30 Statement by the ECB President Draghi on monetary policy.
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