Greeks continue to protest against austerity measures

The Greek parliament has approved tough new austerity measures as part of a new bailout deal.

The package of measures, which had to be approved to open talks on a new multibillion euro bailout, was passed with 229 votes and 64 against in the 300-seat chamber.

With 38 members of his leftwing Syriza party abstaining or voting against the prime minister, the coalition government’s majority in parliament has now all but disappeared.

Former Greek Finance Minister Yanis Varoufakis has voted against the government in a critical austerity bill vote.

Greek Prime Minister Alexis Tsipras sits with Finance Minister Euclid Tsakalotos.

Greek lawmakers will debate the measures on the evening of July 15 and are expected to support the austerity bill, largely because of support from opposition legislators for the deal announced between Athens and its foreign creditors.

Independent eurozone analyst Yannis Koutsomitis say that he expected a government reshuffle following the vote, as two or three ministers had voted against the bill.

Greek bank lines are potentially going to be a memory after Greece’s parliamentary vote on Wednesday night.

“If at any point my resignation is sought it would be at the disposal of the (Prime Minister)”, Lafazanis told journalists. The rally turned violent when several hundred youths attacked police, torched cars, and smashed office displays.

Greece is less than 2% of the economy of the eurozone, but earlier phases of the six-year-old Greek crisis created financial pressure for other indebted countries who found their market borrowing costs rising.

Syriza won the January election on a promise to end austerity, and the government acceptance of more cuts drew an mad reaction from many of its lawmakers – though none of the attacks were aimed at Tsipras.

The European Commission on Wednesday formally backed a controversial proposal to use an EU-wide crisis fund to cover Greece’s short-term cash needs, officials said, setting up a clash with Britain and Germany.

In the framework of the first aid package in 2010, Greece was granted 21.7 billion euros ($23.6 billion) from the International Monetary Fund and 53 billion euros ($57.6 billion) from the Eurozone countries. European Union countries are awaited to approve the loan on Friday.