The Greek Parliament has approved a controversial package of austerity measures, a move deemed crucial to securing the next tranche of bailout funds from the European Union and the International Monetary Fund (IMF).

The measures, which include tax increases and spending cuts, passed after a heated debate and amidst widespread public protests. The government argued that the austerity package is essential to avoid default and stabilize the Greek economy.

Key Measures Approved:

• Increased taxes on property and income
• Cuts in public sector wages and pensions
• Privatization of state-owned assets

Opposition and Public Reaction

The austerity measures have been met with strong opposition from labor unions and the public, who argue that they will further impoverish the population and deepen the recession. Protests have been ongoing for weeks, with demonstrators clashing with police in Athens and other major cities.

International Response

The EU and IMF have welcomed the approval of the austerity package, but have also urged the Greek government to implement the measures effectively and to continue with structural reforms. The international community remains concerned about the stability of the Greek economy and its potential impact on the Eurozone.

The approval of these measures marks a critical juncture for Greece as it continues to navigate its economic crisis.