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Sunday, May 8, 2016

Greek Parliament Approves Controversial Pension, Tax Reforms Sunday May 08,2016

Greek lawmakers late on Sunday May 08,2016 adopted a controversial package of pension cuts and tax hikes despite mass public opposition, bowing to creditor demands in a bid to unlock the next tranche of badly-needed bailout funds.

The unpopular reforms, which saw tens of thousands take to the streets in protest, passed thanks to the Syriza-led government's slim majority in the 300-seat parliament, with the 153 MPs of the far-left Syriza and the Independent Greeks coalition voting in favour of the measures.

As expected all the opposition parties voted against the bill, which will reduce Greece's highest pension payouts, merge several pension funds, increase contributions and raise taxes for those on medium and high incomes.

The parliamentary vote came just hours before an emergency meeting of eurozone finance ministers in Brussels, who are racing to finalise a long-stalled first review of Greece's reform efforts so Athens can repay the European Central Bank billions of euros in July -- and stave off another eurozone crisis.

In the run-up to the parliamentary debate, angry unions staged a general strike that paralysed the country's public transport for a third straight day on Sunday, while some 26,000 people took to the streets of Athens and Greece's second city Thessaloniki in protest at the pensions and tax overhaul.

Brief clashes erupted outside the parliament in Athens ahead of the vote, with youths throwing Molotov cocktails and flares at riot police who responded with volleys of tear gas

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