Greece gov't complies with IMF for bailout

The government in Greece has voted to approve new austerity measures demanded by the Eurozone and the International Monetary Fund (IMF) in return for a 130 billion euro bailout.



The draft bill must now be passed by the Greek parliament and approved by European finance ministers.



Five ministers have resigned from the government over the issue, with one junior party in the coalition calling the demands humiliating.



Prime Minister Lucas Papademos has warned that Greece faces uncontrolled economic chaos if it does not agree to spending cuts or defaults on its debts.



Papademos says ministers who disagreed with the austerity measures could not stay in the coalition government.



Greek conservative leader Antonis Samaras has urged his Party’s lawmakers to vote in favour of the bailout law.



editorial@gleanerjm.com