Greek Confidence Vote Bolsters Bailout Chances

Next step: Passing austerity measures to secure additional financial aid.

Greek Prime Minister George Papandreou’s victory in a confidence vote bolsters his new government’s chances of pushing through austerity measures to secure further international financial aid for the country.

A total of 155 lawmakers supported the motion in the 300-seat parliament in Athens early this morning, with 143 voting against. Papandreou reshuffled his Cabinet and sought the approval of the chamber after fending off a revolt within his socialist Pasok party last week. After the vote, police used tear gas to disperse thousands of Greeks protesting budget cuts.

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