“There was unanimous approval,” Greek Prime Minister Lucas Papademos announced early on Saturday morning.
The demands required by the troika of the European Union, the European Central Bank, and the International Monetary Fund included a 20-percent reduction in the minimum wage, the layoff of 15,000 public sector workers, and a 15-percent cut in supplementary pensions.
On Friday, Papademos said anyone who votes against the bill “cannot remain in the government” since a default would push the country into a state of “uncontrolled economic chaos and social explosion.”
The Greek parliament is now expected to vote on the package on Sunday. Athens will go bankrupt if it does not receive the bailout fund in time before a debt repayment of nearly 14.5 billion euros is due on March 20.
Meanwhile, clashes broke out during a demonstration in front of the parliament building in Athens on Friday, with police officers in riot gear firing tear gas at protesters, who responded with petrol bombs, bottles, and stones.
The country implemented harsh austerity measures in return for the first bailout, a 110-billion-euro package received in 2010.
Despite the austerity cuts and the bailout funds, which are meant to stimulate growth for the troubled Greek economy, the country has been in recession since 2009.
Greeks have come out onto the streets for anti-government demonstrations on numerous occasions since the austerity cuts began in early 2011. Many of the demos turned violent, leaving scores of protesters injured.
PM/MF/HGL
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