The Latest: UN Expert Warns Greek Deal May Create Hardship

The latest on Greece's financial crisis (all times local):


1:15 p.m.

An independent United Nations expert on foreign debt says Greece's creditors may break international law if the austerity measures they demand lead to undue hardship.

Juan Pablo Bohoslavsky says he is concerned about reported shortages of medicines and food caused partly by restrictions on money transfers.

He says in a statement Wednesday that European institutions, the International Monetary Fund and the Greek government must ensure that any bailout deal safeguards the right to health care, food and social security.

Bohoslavsky says "there is real legal risk that some of the harsh austerity measures could be incompatible with European and international human rights law."

He is scheduled to visit Greece Nov. 30 to Dec. 7.


11:45 a.m.

Greece's finance ministry says the banks will remain closed through Thursday.

The ministry says the transactions that can be carried out at the few bank branches that are allowed to open are being broadened. Apart from allowing pensioners without bank cards to withdraw 120 euros per week, they will also process payments for credit card bills, debts to the state like taxes and utility bills, and the payment of insurance company bills.

They will also allow the transfer of funds between accounts in the same bank.

Banks have been shut in Greece since June 29 and capital controls have been imposed restricting ATM cash withdrawals to 60 euros per day, and to 120 euros per week for pensioners and the unemployed without bank cards. Credit and debit card payments within the country are allowed, as are electronic banking transactions within the country. Bill payments abroad or sending funds abroad require special permission.


11:40 a.m.

Spanish Prime Minister Mariano Rajoy says he will put the new Greek rescue plan up for debate and vote in Parliament, even though it is not obligatory.

The proposal is more symbolic than anything. Rajoy backs the rescue deal and his conservative Popular Party's absolute majority in Parliament guarantees its approval.

Rajoy made the proposal Wednesday saying Spanish taxpayers were being asked to guarantee a lot of funds under the deal. He did not set a date for the vote.

He announced the measure during a parliamentary debate on the recent European Union summit.

Six EU countries are obliged to submit the plan to parliamentary vote.


9:30 a.m.

A German official says criticism by Greek Prime Minister Alexis Tsipras of the preliminary bailout deal with creditors isn't helpful.

Tsipras told state TV that "the policies imposed on us were irrational" but the deal was the best Greece could get. Creditors are demanding that the Greek Parliament pass initial legislation on Wednesday.

Germany led eurozone countries pushing a hard line. Deputy finance minister Jens Spahn criticized Tsipras' comments, telling ARD television: "This is not just about saving (money); it is about this country needing an idea of how it wants grow economically again, how it wants to be successful, change structures and win trust."

He added: "If someone then says, 'I don't actually stand by what I'm doing now,' I find that difficult. That doesn't necessarily create trust."

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