Austerity vote in Greek parliament "may fail"

Greek Deputy PM Theodor Pangalos has said that his country's parliament may fail to pass key cuts and fundraising, the BBC reported. New austerity measures must be adopted in order for the country to be granted more bail-out money by the EU and IMF. Austerity vote in Greek parliament "may fail" Speaking on Sunday, Pangalos said that while laws on tax, spending targets and the creation of a privatization agency would likely pass, he was less optimistic about that concerning individual budget measures and the privatization of specific state assets, said the BBC. Parliament is due to start debating on Monday the programme of tax increases and spending cuts worth 28bn euros (£25bn, $40bn) over five years "I think the package of short and medium-term measures with which we basically hope to establish the framework to undertake reforms will be approved without difficulty," he was quoted as saying. The ruling PASOK party has 155 seats in a 300-seat parliament. Greek MPs will start the debate on Monday. The proposed government measures include tax increases and spending cuts worth EUR 28bn. Protests in Athens (Beta/AP)

Austerity vote in Greek parliament "may fail"

Speaking on Sunday, Pangalos said that while laws on tax, spending targets and the creation of a privatization agency would likely pass, he was less optimistic about that concerning individual budget measures and the privatization of specific state assets, said the BBC.

Parliament is due to start debating on Monday the programme of tax increases and spending cuts worth 28bn euros (£25bn, $40bn) over five years

"I think the package of short and medium-term measures with which we basically hope to establish the framework to undertake reforms will be approved without difficulty," he was quoted as saying.

The ruling PASOK party has 155 seats in a 300-seat parliament.

Greek MPs will start the debate on Monday. The proposed government measures include tax increases and spending cuts worth EUR 28bn.