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Tuesday, January 15, 2013

Greece bundles bailout terms into emergency bill


ATHENS, Greece (AP) — Greece's parliament late Monday approved an emergency bill ratifying dozens of conditions set by bailout lenders, from tougher budget oversight rules to pay scales for spies.

Lawmakers voted 166-123 to in favor of the measures provisionally implemented by Cabinet decision late last year so that Greece could secure a massive new round of emergency loans.

The Democratic Left, a junior partner in the conservative-led coalition government, voted against measures to cut benefits for the long-term unemployed and pensioners under age 65, but the reforms were approved by a narrow majority.
Last month, European rescue lenders approved new installments worth €49.1 billion ($65.5 billion), with €34.3 billion ($45.76 billion) paid out days later and the rest to be transferred to Greece by March. But many of conditions were introduced provisionally and would have expired in 40 days without parliamentary approval.

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