Alternattiva Demokratika has urged Parliament to approve the proposed new EU rescue fund in a vote taking place on Wednesday.
The House will be deciding whether to approve beefing up the eurozone’s multibillion bailout fund, after an agreement was reached between government and the Opposition to put the matter on the agenda.
AD chairman Michael Briguglio said the bailout would not only prevent the meltdown of the Greek economy but would also help to bring stability to the eurozone as a whole. He said the alternative was increased poverty, unemployment and instability.
AD also expressed its support for the financial transaction tax proposed by European Commissioner Jose Manuel Barroso.
The tax would be levied on all transactions on financial instruments between financial institutions when at least one party to the transaction is located in the EU.
Dr Briguglio said it was estimated that the tax could generate up to €55 billion a year, which could be used to strengthen the European economy.
“It is high time that banks and financial institutions participate in responsibility sharing for the economic crisis, especially since they received massive help from public funds when this was needed. If workers and employers are paying tax to help sustain economic and social stability, then it is only fair that banks and financial institutions do the same,” he said.