Greece Austerity Law

The law sets rules and procedures for the debt restructuring and opens the way for parliament to take up legislation on further austerity cuts and tough targets required to get another 130 billion euros (USD 172 billion) in loans by 2014.

Greek lawmakers on Monday approved harsh new austerity measures demanded by bailout creditors to save the debt-crippled nation from bankruptcy, after riots in Athens and other cities left stores looted and burned and more than 120 people hurt. The historic vote paves the way for Greece's European partners and the International Monetary Fund to rele...

The legislation will approve a bond-swapping deal with private creditors that will allow Greece to shave off at least euro100 billion of its euro 360 billion debt.

The law sets rules and procedures for the debt restructuring and opens the way for parliament to take up legislation on further austerity cuts and tough targets required to get another 130 billion euros (USD 172 billion) in loans by 2014.

Greek lawmakers on Monday approved harsh new austerity measures demanded by bailout creditors to save the debt-crippled nation from bankruptcy, after riots in Athens and other cities left stores looted and burned and more than 120 people hurt. The historic vote paves the way for Greece's European partners and the International Monetary Fund to rele...

The legislation will approve a bond-swapping deal with private creditors that will allow Greece to shave off at least euro100 billion of its euro 360 billion debt.