Loading...
See More

Greek parliament approves bailout

Mar 21 2012 10:17 Sapa-dpa

Related Articles

Eurozone to sign off Greek cash, grill Spain

Lagarde thanks private sector

Greek bond swap success lifts rescue hopes

Bold hedge funds mull Greek debt battle

Threat of Greek default fades

 

Athens - The Greek Parliament approved a second international bailout deal early Wednesday after thousands of anti-austerity protesters held peaceful protests against the deal.

Some 213 lawmakers backing the coalition government of socialists and conservatives voted in favor of the new agreement, while 79 voted against.

The rescue package, which combined with a first bailout will reach €172.6bn, includes sweeping government spending cuts.

The coalition government was formed in November with the task of securing the new bailout, as well as a deal with private lenders on a €100bn debt writedown.

Athens is under tight supervision from its international creditors to follow through with its austerity reforms as a condition to receive the bailout money.

Government spokesman Pantelis Kapsis said Prime Minister Lucas Papademos was expected by the end of next week to schedule national elections, after having fulfilled his mission.

In the capital Athens and the northern port city of Thessaloniki, several thousand Communist party supporters demonstrated against the austerity measures, which include layoffs and the privatization of state companies.

Meanwhile, seamen said they would be calling off further strikes after the second day of their first 48-hour stoppage ends Wednesday morning. The strike had halted all ferry and ship services to and from the Greek islands since Monday.

The seamen's union said it had decided to end the strike after the government offered written guarantees to demands on pension cuts and salaries.Author: Christine Pirovolakis

 
greece
NEXT ON FIN24X

Illegal MyCiti strike ends

2014-10-31 17:29

 
 
 

Read Fin24’s Comments Policy

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
0 comments
Add your comment
Comment 0 characters remaining
 

Company Snapshot

We're talking about:

Small Business

Retailers of any shape and size can now unlock the power of mobile transacting.
 

Money Clinic

Money Clinic
Do you have a question about your finances? We'll get an expert opinion.
Click here...
Loading...