Greek Parliament Gives Initial Approval to Austerity Law

    Greek lawmakers gave on Wednesday initial approval for an austerity law cutting wages and hiking taxes, crucial for the country to receive a next batch of bailout funds and avoid bankruptcy.

    All 154 of the ruling Socialist PASOK party’s deputies voted in favour of the law, despite violent anti-austerity protests outside parliament earlier in the day. The bill must be approved by article on Thursday to become law.
    (source: Reuters)