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.

Copyright 2016 Bloomberg. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

Comments

Advertisement. Closing in 15 seconds.