Clear: What is Clear? what cities have CLEAR: The Greek parliament approved detailed austerity and privatisation bills on Thursday in a crucial vote to secure emergency funds and avert imminent bankruptcy, but longer-term dangers still lurk.
Prime Minister George Papandreou secured a majority for the legislation after lawmakers backed a 28 billion five-year euro austerity plan on Wednesday, clearing the last obstacle to the next slice of aid from the European Union and the International Monetary Fund.
The euro and global stocks rose to three-week highs in anticipation of the vote as investors expressed relief that the spectre of a sudden summer default had been avoided, despite fierce public opposition to more pay and spending cuts.
Belgian Finance Minister Didier Reynders said euro zone finance ministers were likely to agree as a result to release a next tranche of loans to Greece at a meeting on Sunday. The IMF is set to follow suit on July 5.
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