The Greek parliament has narrowly voted to approve a drastic austerity package despite facing widespread opposition.
The proposed tax hikes and spending cuts - worth €28bn - have been deeply unpopular with the Greek public. A nationwide 48-hour strike is under way and clashes between police and protesters have been reported. However, the package of reforms was vital in order for the country to secure the latest tranche of a 110bn-euro (£98bn) loan. There will be a second vote on Thursday for the implementation of different parts of the package, such as tax rises and the sale of state assets. Ahead of the vote, PM George Papandreou had urged MPs to approve the package by consensus. Investors...
To continue reading this article...
Join Investment Week for free
- Unlimited access to real-time news, analysis and opinion from the investment industry, including the Sustainable Hub covering fund news from the ESG space
- Get ahead of regulatory and technological changes affecting fund management
- Important and breaking news stories selected by the editors delivered straight to your inbox each day
- Weekly members-only newsletter with exclusive opinion pieces from leading industry experts
- Be the first to hear about our extensive events schedule and awards programmes