Greek lawmakers pass austerity measures

Greek MPs have narrowly approved new financial austerity measures, while tens of thousands gathered to protest outside parliament.

Izvor: Deutsche Welle, AFP

Thursday, 08.11.2012.

17:32

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ATHENS Greek MPs have narrowly approved new financial austerity measures, while tens of thousands gathered to protest outside parliament. The measures, passed early on Thursday morning, are part of an 18.5 billion euro effort to provide aid and avoid financial collapse, Deutsche Welle is reporting. Greek lawmakers pass austerity measures The bill narrowly passed with just 153 of 299 lawmakers voting in favor. The legislation includes spending cuts, tax hikes and measures that make it easier to hire and fire workers - all of which will be implemented by 2016. Voting took place despite the absence of the junior ruling party, the Democratic Left, which opposed the bill. Prime Minister Antonis Samaras' New Democracy Party and their Socialist PASOK allies joined to approve the measures. The bill is a precursor to the 2013 budget law, which is expected to be approved on Sunday. The new budget law, if passed, will unlock 31.5 billion euros ($40.2 billion) from the European Union and International Monetary Fund to aid Greek banks and government loan payments. German Foreign Minister Guido Westerwelle has welcomed the outcome of the vote in the Greek parliament, to say that the austerity package worth some EUR 18.5bn, demanded by international creditors, was important confirmation of the policy of consolidation and reforms that Greece needed, the AFP reported. (file) Deutsche Welle, AFP

Greek lawmakers pass austerity measures

The bill narrowly passed with just 153 of 299 lawmakers voting in favor. The legislation includes spending cuts, tax hikes and measures that make it easier to hire and fire workers - all of which will be implemented by 2016.

Voting took place despite the absence of the junior ruling party, the Democratic Left, which opposed the bill. Prime Minister Antonis Samaras' New Democracy Party and their Socialist PASOK allies joined to approve the measures.

The bill is a precursor to the 2013 budget law, which is expected to be approved on Sunday. The new budget law, if passed, will unlock 31.5 billion euros ($40.2 billion) from the European Union and International Monetary Fund to aid Greek banks and government loan payments.

German Foreign Minister Guido Westerwelle has welcomed the outcome of the vote in the Greek parliament, to say that the austerity package worth some EUR 18.5bn, demanded by international creditors, was important confirmation of the policy of consolidation and reforms that Greece needed, the AFP reported.

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