The Straits Times
www.straitstimes.com
Published on Nov 08, 2012
 

Greek lawmakers pass austerity package

 
 

ATHENS (AFP) - Greek parliament on Wednesday narrowly approved a new austerity package demanded by EU-IMF creditors to keep the country's economy afloat.

Conservative and socialist lawmakers from Greece's three-party coalition government voted to adopt the 18.5-billion-euro (S$28.9 billion) budget cuts by 2016 despite protests earlier in the day by more than 70.000 people who massed outside the parliament.

According to Athanassios Nakos, second deputy speaker of the parliament, 153 out of 299 lawmakers voted in favour of the bill that includes spending cuts and reforms to be implemented by 2016, while 128 voted against.

There were significant leaks from socialists Pasok, junior partners of the three-party coalition government. Pasok leader Evangelos Venizelos announced that five of his party's deputies who voted against the measures as well as a sixth one who did not show up were expelled from the party.