1. Greece Passes Austerity Plan As Riots Rage.
- Author
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Kitsantonis, Niki, Donadio, Rachel, Kitsantonis, Niki, Donadio, Rachel, Creswell, Julie, and Povoledo, Elisabetta
- Subjects
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AUSTERITY , *DEFAULT (Finance) , *CONFIDENCE voting , *PROTEST movements - Abstract
ATHENS -- After violent protests left dozens of buildings aflame in Athens, the Greek Parliament voted early on Monday to approve a package of harsh austerity measures demanded by the country's foreign lenders in exchange for new loans to keep Greece from defaulting on its debt. Though it came after days of intense debate and the resignation of several ministers in protest, in the end the vote on the austerity measures was not close: 199 in favor and 74 opposed, with 27 abstentions or blank ballots. The Parliament also gave the government the authority to sign a new loan agreement with the foreign lenders and approve a broader arrangement to reduce the amount Greece must repay to its bondholders. [ABSTRACT FROM AUTHOR]
- Published
- 2012