Tuesday, June 21, 2011

Greek vote of confidence opens way for bailout, cuts

Athens – Prime Minister George Papandreou's government survived by 12 votes, 155-143, opening the way for a $17 billion loan from the World Bank and a spending cut of 28 billion euros.

Only two members abstained.

The vote on the latest round of austerity measures will take place on June 28.

Though the Greek treasury will survive for the time being, the government has reportedly used up the public's patience as unemployment nears 20 percent and retirement has become a myth and a fairy tale.

Protesters, who have been camped outside the building for weeks, chanted insults to the members inside as the votes were polled.

Inside, opposition members heaped disdain on the slim majority, their opinion favoring bankruptcy over extending the massive debt the government faces.

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