Greek Parliament approved austerity plan…

Monday, 13 February 2012 03:31

Last night Greek parliament approved an austerity plan, that guarantees receiving next rescue fund from EU, ECB and IMF.

 Voting took place after violent demonstrations in Athens.

Accepted austerity program foresees decrease in public sector employment by 15 000 employees, liberalization of labor law and lower minimal wage in private sector (600 euro per month).

The agreement with private creditors about limiting Greek debt by 100 billion euro was also approved by parliament.

Austerity deal endorsement is a first step towards receiving second rescue fund by Greece.

The Eurogroup members also expect from Greek leaders recognizance of reforms implementation and solid plan of EUR325 billion budget savings before next group meeting on Wednesday.