WKYT | Lexington, Kentucky | News

Greek lawmakers approve austerity bill

ATHENS, Greece (AP) - Greece's lawmakers have approved a key austerity bill, paving the way for the country to get its next vital bailout loans that will prevent it from defaulting next month.
The unpopular $40 billion five-year package of spending cuts and tax hikes was backed by a majority of the 300-member parliament Wednesday, including a Socialist deputy who had previously vowed to vote against.
The European Union and International Monetary Fund have demanded the austerity measures pass before they approve the release of a loan installment from last year's rescue package.
Without those funds, Greece would be facing a default by the middle of July.
The vote took place amid clashes between police and protesters outside Parliament.
The progress on Greece's debt crisis is sending stocks higher in early trading today.

Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus


2851 Winchester Rd. Lexington, Ky 40509 859-299-0411 - switchboard 859-299-2727 - newsroom
Register for Email
RSS Feeds
Copyright © 2002-2015 - Designed by Gray Digital Media - Powered by Clickability 124708494 - wkyt.com/a?a=124708494
Gray Television, Inc.