Greek Parliament Passes Austerity Package

Greece's parliament finally passed the austerity measures that the European Union and the IMF required for Greece to receive the €130 billion bailout money. The package includes 15,000 public-sector job cuts, liberalization of labor laws, and lowering minimum wage by 20% among other things. This sparked demonstrations in Athens in which some estimates claim that the demonstration was around 80,000 people strong. Several buildings had caught fire as a result of violent protesters hurling flares. Hopefully the passing of the austerity package will prevent a financial collapse that will most likely spread to other parts of Europe and the world.

http://www.bbc.co.uk/news/world-europe-17007761

by Matthew Draper