Greece: Parliament backs more austerity after snap poll

The instalment is part of a bailout agreement with eurozone lenders, under which Athens must implement public spending cuts and tax hikes in order to receive 86 billion euros over three years.

Protesters from communist-affiliated party PAME wave a flag as they chant anti-austerity slogans outside the Labor Ministry in Athens, Thursday, October 15, 2015.

“There are not any new measures, however troublesome insurance policies which we have been all conscious of once we voted for the bailout settlement in August”. It also alienated a large section of Tsipras’ radical left Syriza party who were strongly against further austerity.

Out of 48 necessary reforms, around a dozen are included in legislation voted on Friday, he said.

A breakaway party formed by politicians who split with Mr Tsipras’ party during the summer failed to get elected to parliament in the September election.

“We can’t accept a new crime at the people’s expense”. “We should not let them destroy social security”.

But not everyone is in favour of the cost-cutting plan, which will penalise early retirement and expand a much-despised property tax. The measures are required before crucial funds can be injected into the country’s ailing banks. Eurozone lenders have promised discussions but only if certain economic measures are met.

The cost of the reforms, as well as the ongoing controls on money transfers in the country, are expected to keep Greece in recession for at least the next two years. “No to the bailout policies”, read banners waved by protesters during a protest rally organised by the umbrella union of civil servants ADEDY and Leftist parties outside parliament in central Athens, the Greek capital on Friday evening, while MPs were still debating the bill.