Greece Votes for Austerity Measures

“Breaking News Alert: Greek parliament approves austerity plan 
June 29, 2011 9:33:01 AM

The Greek parliament on Wednesday approved a controversial package of tax hikes and spending cuts, clearing the way for $17 billion in international emergency loans needed to stave off a possible default. 

The party-line vote gives Prime Minister George Papandreou a critical victory in the midst of crisis talks with other European leaders and the International Monetary Fund.