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2012-05-20
Presidents Obama And Karzai Outline Post-2014 Afghanistan Vision At NATO Summit

Montana Wins States' Backing Over Citizens United Legal Fight

'Life Over War': U.S. Veterans Return Medals At NATO Summit

Euro-Zone Crisis: U.K. Prime Minister Cameron's Warning To Greek Voters

Chen Guangcheng's Family And Friends 'Still At Risk' In China

Nationalist Wins Serb Presidential Run-Off Election

Convicted Lockerbie Bomber, Abdelbaset al-Megrahi, Dies

Update: Italy Earthquake Kills 5 And Destroys Centuries Of History

President Obama Touts 'Emerging Consensus' On Reviving Europe

Presidents Obama, Hollande Help Tilt G-8's Balance To Stimulus

The Age Of Extreme Oil - 'This Used To Be A Forest?'

Germany Isolated Over Euro Crisis At G-8 Meeting In Chicago

Scientist Who Championed 'Gay Cure' Admits He Was Wrong

At Least 3 Dead As 5.9 Magnitude Earthquake Rocks Northern Italy

Protesters Set Stockades Ablaze In Busy Montreal Streets

2012-05-19
G-8 Leaders End Summit With Pledge To Keep Greece In Euro Zone

President Obama Takes Republicans To Task Over 'Battle' Against Wall Street Reform

Prosecutors: Three NATO Protesters Planned Attack On President Obama's Campaign Headquarters

1 Girl Killed, 7 Injured In Bomb Attack On Italian School

Syrian Car Bomb Kills Nine, Injures Hundreds

Chen Guangcheng Arrives In U.S. But Fears For Family's Safety

SpaceX Dragon To Launch This Morning At 04:55am EDT

Iran, Syria Among Top Issues For G-8 And NATO

Millennia-Old Microbes Found Alive In Deep Ocean Muck

Chen Guangcheng Says He And Family Are Set To Leave For U.S.

ScienceWonkblog - Radioactive Smuggling

Secrecyblog: NSA Declassifies Secret Document After Publishing It Online

Canada's Harper Government Shuts Down Green Business Advisory Agency

Annular Solar Eclipse Viewable From U.S. On Sunday

Unemployment Update - May 2012


Greece Approves Austerity Cuts To Secure Euro-Zone Bailout, Avoid Default
2012-02-13 03:51:11 (14 weeks ago)
Posted By: Intellpuke

Greece enacted billions of euros in spending cuts and fresh austerity measures last night in a volatile parliamentary vote aimed at avoiding default on its national debt and keeping the euro zone intact, despite some of the worst rioting and political violence witnessed in the country in years.


There were clashes between protesters and riot police in
Athens before MPs passed the austerity bill to secure a
new euro-zone bailout. Photograph: Milos Bicanski/Getty

More than 40 buildings were set ablaze in an orgy of looting that left scores injured as protesters vented their anger at the caretaker government and parliament's ordering of a further €3.3 billion of savings by slashing wages and pensions and laying off public sector workers.

In return, Greece is to receive a second euro-zone bailout in two years worth €130 billion in addition to a €100 billion write-down of debt by the bankrupt country's private creditors.

There was turmoil inside the parliament, too. MPs (Members of Parliament) voted 199-74 in favor of the cutbacks, despite strong dissent among the two main coalition members.

A total of 37 politicians from the majority Socialists and conservative New Democracy party either voted against the party line or abstained. A further six voted against sections of the legislation. After the vote, the government announced that those 43 ministers had been expelled.

But the scenes of mayhem on the streets of Athens and all across the country leave big questions unresolved regarding Greece's capacity to stick with the savage austerity. The country is in its fifth year of recession and has little prospect of halting a steep decline in living standards.

(story continues below)




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