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The second austerity package was approved by the Hellenic Parliament in March 2010.. On 5 March 2010, amid new fears of bankruptcy, the Greek parliament passed the "Economy Protection Bill", which was expected to save another €4.8 billion. [4]
The anti-austerity movement in Greece involved a series of demonstrations and general strikes that took place across the country. The events, which began on 5 May 2010, were provoked by plans to cut public spending and raise taxes as austerity measures in exchange for a €110 billion bail-out, aimed at solving the Greek government-debt crisis.
Greece faced a sovereign debt crisis in the aftermath of the 2007–2008 financial crisis.Widely known in the country as The Crisis (Greek: Η Κρίση, romanized: I Krísi), it reached the populace as a series of sudden reforms and austerity measures that led to impoverishment and loss of income and property, as well as a humanitarian crisis.
Greece has made a "strong start" in its austerity program and is on course to receive a 9 billion euro ($11.8 billion) installment of emergency loans, a joint European and IMF delegation said.
However, Greece's The nation's parliament has voted through an extreme austerity budget that was to be the ticket to a new tranche of aid. Greece Faces More Delays After Passing Austerity Budget
Greek Prime Minister George Papandreou said his nation won't deepen austerity measures beyond their current levels. The government has already made sharp cuts to national spending, which has ...
The Ninth austerity package was imported by the government in April 2014 and was approved by parliament on 9 May 2014 with 150 votes for and 119 against. It included provisions about Greek economic policy during the four next years, under the title Medium-term Fiscal Strategy plan 2015–2018.
The second Tsipras government was marked by an intense austerity policy in the context of the third bailout to Greece. Greece officially exited from the bailout programs in August 2018 (three years after the referendum) and the Tsipras government announced some social cohesion measures such as increases in pensions and aid packages for low ...