Greece lawmakers back austerity measures

Lawmakers in Greece have narrowly backed a fresh round of austerity measures, despite violent protests across the country. The austerity package aimed at securing the next round of bailout funds was passed with 153 MPs in favour – a majority of just three. The 13.5 billion euros ($17.3 billion) bill includes tax rises and pension cuts, according to the (BBC). Earlier, riot police fired tear gas towards protesters when they were attacked with petrol bombs in Athens. Prime Minister Antonis Samaras warned before the vote late on Wednesday that without the bailout Greece would run out of money this month and face “catastrophe”. The austerity package – Greece’s fourth in three years – is meant to close the nation’s budget deficit, lower its huge debt burden and make its economy more competitive, the BBC said. MPs must now pass a revised budget on Sunday before eurozone finance ministers meet next week to approve 31.5 billion euros in fresh loans from the European Union (EU) and the International Monetary Fund (IMF) that Greece needs to avoid imminent bankruptcy. But the level of resistance on the streets is a reminder that implementing the latest tough measures will be extraordinarily difficult, the BBC reported.