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Greek Parliament Passes Austerity Bill

Amid a growing public backlash, the Greek Parliament voted Sunday to approve a package of austerity reforms, marking a key step toward securing a second bailout for the debt-riddled nation.
Lawmakers voted 199-74 in favor of the cutbacks, despite strong dissent among the two main coalition members. A total of 37 lawmakers from the majority Socialists and conservative New Democracy party either voted against the party line, abstained or voted present.
The vote clears one of three hurdles the Greek government must overcome to qualify for a second bailout worth €130 billion from the European Union, International Monetary Fund and European Central Bank, collectively known as the troika.
Greece needs the money to avoid a potential default on a €14.5 billion bond redemption in March.
The reform program includes firings and salary cuts for government workers, pension reforms, and other measures to reduce government spending.

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