Greek parliament passes austerity deal
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E-mail China.org.cn, February 13, 2012
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Greek parliament passed early Monday by a two thirds majority a new austerity deal for a second bailout loans from EU and International Monetary Fund creditors to avoid a full-scale default next month, Greek media reported.
The new austerity deal was demanded by the eurozone and IMF in return for a 130bn-euro ($170bn; ￡110bn) bailout to avoid default.
The final official result is expected to be announced shortly after.
The austerity measures include:
--15,000 public-sector job cuts;
--liberalisation of labour laws;
--lowering the minimum wage by 20% from 751 euros a month to 600 euros;
--negotiating a debt write-off with banks.
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