Greece passes 2013 austerity budget
by DEMETRIS NELLAS,Associated Press
Nov 11, 2012 | 1130 views | 0 0 comments | 4 4 recommendations | email to a friend | print
Greek riot police officers, right, push the last remaining protesters off the street, following an anti-austerity rally in front of the Parliament in central Athens, Sunday, Nov. 11, 2012. Thousands of protesters converged on the Greek capital's main square outside the Parliament on Sunday evening, as lawmakers debated the 2013 budget, which includes pension and salary cuts demanded by the country's international creditors in order for them to approve the next vital batch of rescue loans. (AP Photo/Lefteris Pitarakis)
Greek riot police officers, right, push the last remaining protesters off the street, following an anti-austerity rally in front of the Parliament in central Athens, Sunday, Nov. 11, 2012. Thousands of protesters converged on the Greek capital's main square outside the Parliament on Sunday evening, as lawmakers debated the 2013 budget, which includes pension and salary cuts demanded by the country's international creditors in order for them to approve the next vital batch of rescue loans. (AP Photo/Lefteris Pitarakis)
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ATHENS, Greece (AP) — Greek lawmakers approved the country's 2013 austerity budget early Monday, an essential step in Greece's efforts to persuade its international creditors to unblock a vital rescue loan installment without which the country will go bankrupt.

The budget passed by a 167-128 vote in the 300-member Parliament. It came days after a separate bill of deep spending cuts and tax hikes for the next two years squeaked through with a narrow majority following severe disagreements among the three parties in the governing coalition.

Prime Minister Antonis Samaras pledged that the spending cuts will be the last Greeks have to endure.

"Just four days ago, we voted the most sweeping reforms ever in Greece," he said. "The sacrifices (in the earlier bill and the budget) will be the last. Provided, of course, we implement all we have legislated. "

"Greece has done what it was asked to do and now is the time for the creditors to make good on their commitments," he stressed.

Athens says that with the passage of the two bills, the next loan installment, worth €31.5 billion (about $40 billion), should be disbursed. Without it, the government has said it will run out of cash on Friday, when €5 billion ($6.35 billion) worth of treasury bills mature.

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