Calamos Supports Greece
GreekReporter.comEuropeGreek Parliament Passes Austerity Measures

Greek Parliament Passes Austerity Measures

The crucial Greek austerity bill has been passed by parliament.
The cuts it will bring are needed to release funds in 110 billion euro (£94 billion) three-year rescue package of loans from the other 15 euro-zone countries and the International Monetary Fund.
The vote was carried out by roll call, and reached the simple majority of 151 votes in favour in the 300-member parliament to pass.
The governing Socialists have 160 seats but three of their deputies abstained.
Greeks have been outraged by the measures, which slash salaries and pensions for civil servants and raise consumer taxes.
Thousands of people gathered outside parliament to protest at the measures.
The bill passed with 172 votes in favour and 121 against. Prime Minister George Papandreou expelled the three deputies (Sakorafa, Ikonomou, Dimaras) who abstained and did not vote in favour, kicking them out of his Socialist party’s parliamentary group. The move leaves him with 157 deputies, still a comfortable majority.
Conservative opposition leader Andonis Samaras kicked out former foreign minister Dora Bakoyiannis who broke party ranks voted in favour of the bill. The main opposition party now holds just 90 seats.
Mr Papandreou and his finance minister insisted the austerity measures and the rescue package they are linked to were the only hope for the country to avoid bankruptcy.
The rescue loans are aimed at containing the debt crisis and keeping Greece’s troubles from spreading to other countries with vulnerable state finances such as Portugal and Spain. The money will come from the International Monetary Fund and the 15 other governments whose countries use the euro.

See all the latest news from Greece and the world at Contact our newsroom to report an update or send your story, photos and videos. Follow GR on Google News and subscribe here to our daily email!

Related Posts