Greece Set to Vote on Final Spending Cuts

Ad Feedback

Greece will take a giant step to dig itself out of a financial mess and to clean up a mess on its streets after violent protesting.

Lawmakers are committed to pass a bill to fast-track fresh austerity measures demanded by the country's creditors.

On Wednesday, the parliament approved the five-year, $40 billion austerity package of spending cuts and tax increases. The details of spending cuts must be worked out on Thursday.

If the austerity measures are cleared, the eurozone and the International Monetary Fund are expected to release the $17 billion still due from last year's package of rescue loans for Greece.

Without the financial assistance, Greece faces bankruptcy as soon as mid-July.

Meanwhile, Athens residents are clearing debris after violent protests in the capital city.

On Wednesday, riot police clashed for a second straight day with protesters displeased with austerity measures being imposed in Greece.

At least 200 people were injured, including a lawmaker who voted for the package at the last minute.

Log in or create an account to post a comment.  

CBN IS HERE FOR YOU!

Are you seeking answers in life? Are you hurting? Are you facing a difficult situation?

Find peace with God, discover more about God or send us your prayer request.

Call The 700 Club Prayer Center at 1 (800) 823-6053, 24 hours a day.

A caring friend will be there to pray with you in your time of need.

CBNNews.com

CBNNews.com

CBN News is a national/international, nonprofit news organization that provides programming by cable, satellite, and the Internet, 24-hours a day. Follow us on Facebook, Twitter, and Google+.