September 29, 2016

Greek parliament passes new austerity measures

Greek lawmakers have approved controversial economic reforms proposed by the country's creditors in return for financial aid.

The bill was favored by a majority vote in the 300-seat parliament. The new austerity measures aim to cut pension spending and speed up privatizations. The ruling will allow major state assets to be run by a new privatization fund. The fund will take control of public utilities and other assets for 99 years.

The Greek Finance Ministry will appoint the majority of members on the fund's executive board, but the international lenders will appoint its chairman. Meanwhile, rallies were held outside Greece's parliament to protest against the move.


This is not sustainable - eKathimerini
- Randstad Survey: 40% of Greeks Fear Losing Their Job - Greek Reporter

Berlin: Nein to Talks with Greece over Reparations; Nein to Debt Relief before German Elections - PressProject

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