Greek Parliament Approves Austerity Measures to Release Funds


17 July 2013
, by Tom Stoukas, Eleni Chrepa and Marcus Bensasson (bloomberg

Greek lawmakers passed a bill that puts thousands of state workers on notice for possible dismissal, a victory for Prime Minister Antonis Samaras that clears the way for the country’s next installment of bailout loans.

A total of 153 lawmakers voted for most of the articles in a roll call with 140 against, Deputy Parliament Speaker Christos Markogiannakis said in remarks carried live on state-run Vouli TV after voting ended shortly after midnight local time.

The vote came hours before German Finance Minister Wolfgang Schaeuble arrives in Athens for a one-day visit.

With his coalition reduced and Greece stuck in its sixth year of recession, Samaras pushed the job cuts over public protests amid record unemployment of 27%.

Passage was needed for euro-area officials and the International Monetary Fund to sign off on the next disbursements from a €240 billion ($314 billion) bailout.

“An unprecedented effort is now under way to reconstitute our country’s economy and state,” Finance Minister Yannis Stournaras told lawmakers before the vote.

“I’m totally confident that the road we’re following is the right one. The effort is yielding results.”

The bill includes provisions to push through a plan to put 25,000 public employees on notice for possible dismissal.

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