Greek parliament passes 2011 austerity budget
The Greek parliament has today approved its 2011 austerity budget, which includes further spending cuts and tax hikes.
The budget, which is part of the condition of its bailout from the European Union and the International Monetary Fund (IMF), is an attempt to trim the country’s deficit to 7.4% of GDP next year, down from 9.4% this year.
After almost a week of discussions, the budget was adopted by 156 votes to 142, with the governing Socialists winning the vote.
However, prior to the vote, public transport unions stated a 24-hour strike over the cuts – yet another strike which has hit the debt-ridden country.
Meanwhile, Prime Minister George Papandreou has insisted the measures were working.
“We will do whatever it takes to succeed. We will change this country,” adding that “Greece will not go bankrupt.”