Greek lawmakers OK last-hope bailout plan

ATHENS — Greek lawmakers have agreed to austerity terms rejected by the people in a landslide referendum less than a week ago, culminating in one of the most bizarre political episodes of modern times.

The 300-member parliament passed the motion by majority vote at about 3 a.m. Saturday.

The measures, including tax hikes and cuts in pension spending, are certain to inflict more pain on the public. But the new proposal, if approved by Greece’s international creditors, will provide longer-term financial support for a nation that has endured six years of recession.

Speaking to Parliament earlier, Prime Minister Alexis Tsipras acknowledged the proposals, which include harsh austerity measures such as tax hikes and cuts to pension costs, were far from his party’s pre-election promises. But he said it was the only chance for Greece to win a much-needed bailout that will include measures to address the country’s debt and will provide adequate financing.

Tsipras says he negotiated as hard as he could and admits his government had made mistakes during his barely six-month tenure as he fought to win bailout funds.

Tsipras described the last few months as a war in which difficult battles were fought and some were lost. “Now I have the feeling we’ve reached the demarked line. From here on there is a minefield,” he said.

He added that he doesn’t have the right to hide from the Greek people that the measures Greece must take are far from his left-wing party’s pre-election pledges.

Greece’s major creditors — the International Monetary Fund, the European Central Bank and other eurozone nations — were already combing through the proposals before sending them to the other 18 eurozone finance ministers Saturday. A summit of the full 28-nation European Union in Brussels was to consider them on Sunday, with hopes for a deal before midnight.