Greek Goverment Survices No-Confidence Vote

Greece’s coalition government won a confidence vote Monday called by the left-wing opposition but saw its parliamentary majority cut by one seat.

Socialist deputy Theodora Tzakri was expelled from the party after refusing to back Conservative Prime Minister Antonis Samaras’ 15-month-old government in the vote held in the 300-seat parliament early Monday.

Samaras saw his support cut to 154 deputies — just three above the minimum required — after Tzakri was declared an independent.

Samaras formed the coalition after the June 2012 election and has pushed through unpopular austerity measures demanded by international lenders in return for the country’s 240 billion-euro ($322-billion) bailout.

Tzakri, a 43-year-old former deputy interior minister, accused the government of planning deeper austerity cuts in a country that is already reeling from unemployment, job cuts and higher taxes.

“The Greek people are being wiped out by constant cuts and taxes, prospects of growth are being put off, and the government’s only concern is how it will sell another round of taxes and cuts to the public,” Tzakri said in a statement.

via The Washington Post

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.