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Greek parliament gives first approval to new austerity bill

Business Materials 20 October 2011 00:45 (UTC +04:00)
Greece's parliament gave initial approval to a new austerity bill on Wednesday, consisting of tax hikes and further pension and salary cuts.
Greek parliament gives first approval to new austerity bill

Greece's parliament gave initial approval to a new austerity bill on Wednesday, consisting of tax hikes and further pension and salary cuts, DPA reported.

The overall bill was initially approved by 154 deputies, while 141 voted against in the 300-member parliament.

A second, and more crucial vote, on each individual article of the bill - including the contested article 37 regarding the suspension of collective labour contracts - will be conducted on Thursday.

The full austerity bill will only be passed following Thursday's vote.

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