Greece Passes Austerity Measures

Revelation 6:5,6 NCV When the Lamb opened the third seal, I heard the third living creature say, "Come!" I looked, and there before me was a black horse, and its rider held a pair of scales in his hand. Then I heard something that sounded like a voice coming from the middle of the four living creatures. The voice said, "A quart of wheat for a day's pay, and three quarts of barley for a day's pay, and do not damage the olive oil and wine!"

The Greek parliament overwhelmingly passed austerity measures that are extremely unpopular with the Greek citizens by a vote of 229 to 64.

The measures approved by the Parliament include raising taxes and cutting pensions.  The measure passed because of the votes of the opposition parties as the prime minister’s ruling Syriza party mostly voted against the measure.

Syriza had ran for parliament on a platform of not accepting any more austerity measures.  Party Speaker Zoe Constantopoulou said the deal was “social genocide.”

Prime Minister Alexis Tsipras said the deal was the best he could get from the European Union and the country’s creditors.

The vote brought immediate action from the European Central Bank (ECB) which increased emergency funding for Greek banks by 900 million Euro for one week.

ECB President Mario Draghi said the bank’s total exposure to Greece totals 130 billion Euro.

“It’s uncontroversial that debt relief is necessary and I think that nobody has ever disputed that,” Mr Draghi told the BBC.  “The issue is what is the best form of debt relief within our framework, within our legal institutional framework. I think we should focus on this point in the coming weeks.”

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