The Greek Parliament tonight approved the 2013 budget law, which provides for cuts of over 9 billion euros, of which 7,6 billion on wages and pensions. There were 167 votes in favor, 128 against. The release of the new tranche by the EU and the IMF depended on the go-ahead for the measure international aid of 31 billion euros in favor of Athens, which should arrive this week at this point. Outside the Greek Parliament thousands of people protested against the new cuts.
Just five days ago, the Athens Parliament adopted the new austerity package for the next two years, consisting of spending cuts of 13,5 billion euros and a reform of the labor market.
But the road remains uphill, also because the ECB has reduced the debt margin allowed in Athens from 17 to 12 billion. The government of Athens to avoid being short of liquidity will issue short-term government bonds tomorrow (3-6 months) to repay the 4,1 billion bonds maturing on November 16 and avoid default.
Secondo Der Spiegel online, before loosening the purse strings, The EU and the IMF would like the Samaras government to list the names of 2 civil servants to send home by the end of 2012.
