Greece Agreement euro-zone: should we fear the vote of parliament … – The Express

The Greek parliamentarians are not the only ones to vote on Wednesday. In France in particular Parliament was also consulted this WEDNESDAY. But if the outcome of the French vote (672 votes for, 92 against) did not commit the government to anything, it does not hold true in Germany and Finland, two countries whose national representation is among the most hostile to a continuation of Greece in the euro area.

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In Germany, it is sufficient that the “yes” topped the Bundestag, that the agreement is ratified. But in Finland will require a vote by an absolute majority, far from certain.

Only 8 of 19 parliaments are voting

On a broader level, all countries shareholders of the European Stability Mechanism (ESM) should validate Okay, so that it is implemented. In many countries, a simple decree or a government statement to Parliament enough. This is the case of Italy, the Netherlands or Belgium. It will be a formality.

Typically MY decisions must be adopted unanimously but , “however, there is the possibility to bypass [this rule] by using device Emergency requires only 85% of the vote “explained Christopher Dembik, economist at Saxo Bank, our colleagues Invest.

The Finns

weighing only 1.78% share of MES, they will not annoy the draft European agreement on their own. However, the Germans parliamentarians, who will vote Friday, even if it is very unlikely that they disavow Angela Merkel, will have a right of life and death over the agreement with nearly 27% share of the ESM.

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Finally the Greek vote, which will take place on the night of Wednesday to Thursday, takes a special character since it relates directly to the implementation of the reforms contained in the agreement. In case of rejection of the text in Athens, the prospect of a third plan of aid to Greece would automatically lapse.