Greece Passes Austerity Measures to Get Bailout Funds
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The choice of Greek lawmakers appeared clear: Approve five-year austerity measures, or lose the forthcoming installment(s) on the EU/IMF bailout loan package and plummet into disastrous default. Still, the 155-138 vote today for the spending cuts and tax hikes has been met with violent protests before the roll cal even began. Greek labor unions set a two-day strike into effect yesterday, and the demonstrations (totaling about 20,000) quickly erupted into fiery clashes between police and protesters. “We must avoid the country’s collapse at all costs. Now is not the time to step back,” embattled Socialist Prime Minister George Papandreou said just before the vote.
admin @ June 30, 2011