Greek parliament passes key austerity bill

[Bosonic]

Source: AP

ATHENS, Greece (AP) -- Greece's lawmakers have approved a key austerity bill, paving the way for the country to get its next vital bailout loans that will prevent it from defaulting next month.

The unpopular euro28 billion ($40 billion) five-year package of spending cuts and tax hikes was backed by a majority of the 300-member parliament Wednesday, including Socialist deputy Alexandros Athanassiadis, who had previously vowed to vote against.

The European Union and International Monetary Fund have demanded the austerity measures pass before they approve the release of a euro12 billion loan installment from last year's rescue package.

Without those funds, Greece would be facing a default by the middle of July.

Read more: http://hosted.ap.org/dynamic/stories/E/EU_GREECE_FINANCIAL_CRISIS?SITE=AP&SECTION=HOME&TEMPLATE=DEFAULT

[robcon]

1. Greek parliament passes key austerity bill

Source: Yahoo (AP)

ATHENS, Greece (AP) — Greece's lawmakers have approved a key austerity bill, paving the way for the country to get its next vital bailout loans that will prevent it from defaulting next month.

The unpopular €28 billion ($40 billion) five-year package of spending cuts and tax hikes was backed by a majority of the 300-member parliament Wednesday, including Socialist deputy Alexandros Athanassiadis, who had previously vowed to vote against.

The European Union and International Monetary Fund have demanded the austerity measures pass before they approve the release of a €12 billion loan installment from last year's rescue package.

Without those funds, Greece would be facing a default by the middle of July.

Read more: http://beta.news.yahoo.com/greek-parliament-passes-key-austerity-bill-130622550.html

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More demonstrations and riots(?) will follow, IMO.

[FLPanhandle]

2. Too late now.

Any chance for demonstrations and protesting to sway politicians is before the vote.

[midnight]

3. They are preparing us to be next in line.....

[Imajika]

4. All this street theater has had no real impact...

"More demonstrations and riots(?) will follow, IMO."

Won't matter. The outcome of this vote has always been clear - austerity is going to continue. The protesters and union strikes have accomplished virtually nothing.

Looks to me that while the austerity programs are deeply unpopular, most Greeks don't see a credible, less painful plan being advocated that they can get behind. You can't beat something with nothing, and the opposition to these austerity measures simply haven't made a case or put forward serious proposals that people can rally behind.

[blindpig]

10. Think not?

Athens is in flames, property is being destroyed, that always gets the attention of the owning class. So it passed, let's see them follow through, let's see if this government survives, or the next.

Let the rich pay.

[Imajika]

13. The violent protesters probably hurt the cause...

A bunch of violent kids and anarchists smashing things and setting fires deters regular people from showing up en mass.

The rioting hurts the efforts to stop "austerity".

[socialist_n_TN]

18. How can you say that "The rioting hurts the efforts

to stop "austerity" in this post and in your other posts say that it's all theater anyway and that nothing will stop austerity?

There's a fact in struggles of any type, of escalating reaction. If somebody yells at you, you yell back. If somebody takes something from you, you take something of theirs. If somebody takes a poke at you, you hit back. That is the dynamics of struggles. Everything that the Greeks have done to this point, all the demonstrations, all the one day general strikes, have done NOTHING to stop the bought politicians from giving in to the bankers. I don't blame the people for escalating it. Nothing else works.

Now what works better as a tactic instead of riots (or rather in ADDITION to riots) is an indefinite general strike and arming worker's militias. But it's gotta be up to the Greeks to decide to take it to that next level. The riots though? That's a natural escalation for a self defense situation that isn't getting resolved in your favor.

[Fool Count]

15. They may not see "a credible, less painful plan" now,

but their vision will be dramatically improved once they start feeling the actual effects of this highway robbery on their asses. Which shouldn't be too long.
If I were an EU banker, I wouldn't be counting on getting that bailout money back any time soon. Or ever. What truly won't matter in the long run is
exactly the outcome of that vote. All those promises of austerity and sacrifices made by the Greek government are only as good as that government's
ability to stay in power for the duration. Which is to say not very good at all.

[socialist_n_TN]

16. I'm not sure they're expecting to get the

money back, soon or not. They're making a TON of money off of the big time interest rates right now. AND the privatization. That's their main goal IMO. The privatization of assets at bargain basement prices.

[sudopod]

19. You really enjoy watching the big crush the small, don't you? :3 nt

[tootrueleft]

5. God damn it. The Greeks are really going to be hammered now...

[plumbob]

6. Oh, goodie! Now eligible to get even more of the poison that's

killing the country! YAY! Even more debt, even higher payments, while killing off the economic structure underneath needed to make those payments! Whooppee! Ponies for all the bankers!

They'll get even more money from the rest of the EU when this greater debt sinks the country, as it's designed to do! Pieces of paper valued more than people! Yeah! That's the stuff!

[sudopod]

20. They should at least give Greece the courtesy of a reach-around. nt

[plumbob]

21. It's a hardball world, son. We've gotta keep our heads until this peace craze blows over.

So join the team and jump in for the big win.




You are absolutely right.

[socialist_n_TN]

7. The Greeks are more out front with it than we are

but they're still afraid to take the next step and force a "dual" power set up against the bourgeoisie government. And of course, set up an armed worker's militia because without an enforcement arm it's not really a dual power set up.

They're in the midst of a prerevolutionary phase, but until that general strike becomes indefinite, it's not going anywhere. There's no way that ANY of the bourgeoisie parties will renounce "austerity", so this is just letting off steam.

It's up to the people as to whether they want to take that next step because the unions won't call for it and neither with the political parties. The union leadership will follow the people (kicking and screaming, but they WILL follow), but NONE of the political parties will take that step.

[SnakeEyes]

8. I admit I know little about Greece

Can someone explain what Greece should be doing instead of austerity?

[tootrueleft]

9. Tax reform and debt restructuring via an organised default.

[blindpig]

11. And this is what ya get:

And when our government tries to impose this 'austerity'(mass transfer of wealth to the rich) that's what we should do too.

[fascisthunter]

14. damn straight we should

[brentspeak]

12. Translation: Global bankers and investors can now purchase Greek public assets for peanuts

just in time before Greece will eventually be forced to default eventually, despite all the austerity measures foisted on average Greek citizens.

Great scam.

[socialist_n_TN]

17. Yep. And don't forget the interest payment ON that debt

that will provide income while they're orchestrating the sell offs of all those assets they're going to "privatize" at bargain basement prices. Without a worker's takeover of government, the Greeks are totally fucked.

Coming soon to the USA and the rest of the world. And just think this whole scam was actually STARTED by the banks back in '08 for this very purpose. They started it, tanked the world's economy, got bailed out by the people so they didn't lose anything then, and now are screwing the people out of their assets because the economy is STILL in the crapper from their excesses before the crash. They win all around.