Greek Parliament Implements New Austerity Measures

After approving the new austerity package yesterday, Greek parliament met again today and passed legislation implementing the new measures. While passage of the measures has been expected for some time now, the vote yesterday had a smaller majority than one would usually hope for, as a large minority sided with citizens protesting outside parliament, many of whom will now lose their jobs or suffer massive pay cuts.

However, passage of the measures was a necessary condition of the EU’s next tranche of aid for the nation, needed in order to prevent default on Greek debt.

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