GREECE APPROVES AUSTERITY BILL

Jul 15, 2015

By Michael Kramer

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Greece’s Parliament has given the go-ahead to an austerity bill that was demanded by bailout creditors – despite dissent from the governing leftist Syriza party.

The sweeping tax hikes and spending cuts were approved – with the support of three pro-European opposition parties.

Many prominent members of Prime Minister Alexis Tsipras’ ruling party voted against his recommendation – including Energy Minister Panagiotis Lafazanis and former finance minister Yanis Varoufakis.

Greece’s Eurozone rescue lenders demanded the new round of cuts in a deal reached this week – to place Greece in a new bailout program.

Those against argued that Greeks couldn’t face any more cuts – after six years of recession that saw a dramatic rise in poverty and unemployment.

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