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Greece eyes fresh bailout funds after budget passed

Published on Nov 12, 2012 7:44 AM
 
Greek Finance minister, Yiannis Stournaras speaks at the Greek parliament in Athens on Nov 11, 2012 during the discussion over the 2013 budget. -- PHOTO: AFP

ATHENS (AFP) - The Greek parliament on Sunday approved a slashed 2013 budget which the government has vowed will secure the release of foreign aid vital to save the debt-ridden country from insolvency.

The vote marked another step in the government coalition's efforts to meet the demands of its creditors after a separate package was approved on Wednesday.

The austerity measures, which will result in salary and pension cuts across the board, are deeply unpopular and have fueled sometimes violent protests in the capital Athens.

According to an AFP count, more than 150 of parliament's 300 members voted in favour of the budget, paving the way for the European Union, International Monetary Fund and the European Central Bank to unlock a 31.5 billion euro (S$49 billion) tranche of bailout funds.

 
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