Wednesday, June 29, 2011

Chances rise Greek austerity plan to pass in vote

June 29, 2011

Greece's parliament holds a crucial vote on Wednesday on whether to submit the country to unpopular austerity measures demanded as the price for funds to prevent the euro zone's first sovereign default.

Hooded youths threw stones, wielded sticks and set fire to garbage bins and a truck outside parliament on Tuesday as Greeks protested against the five-year plan of budget cuts, increased taxes and privatisations.

In a boost to embattled Prime Minister George Papandreou, one of three deputies from his ruling Socialist party backtracked and said he would support the austerity plan vital for Greece to secure EU/IMF funds in July.

Without them, Greece would run out of cash within weeks.

"I have made the decision to vote for the plan because national interests are more important than our own dignity," Thomas Robopoulos, the deputy, told Reuters.


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