Austerity bill sent to parliament

Feb 10 2012

Draft legislation in Greece for new austerity measures needed for a 130 billion euro bailout deal has been submitted to parliament.

The bill came after an emergency Cabinet meeting, held after six ministers and deputy ministers resigned over the harsh new cuts, which include firing thousands of civil servants and slashing the minimum wage.

Greece's prime minister Lucas Papademos told ministers the measures were vital to avoid a default that would cost Greece its place in the eurozone and provoke "economic chaos and social explosion".

Politicians will vote on the new measures late on Sunday.