June 21, 2011
Bowing to pressure from Greece's international creditors, newly appointed Finance Minister Evangelos Venizelos said Tuesday that Parliament will speed up a vote on the country's latest austerity plan—and related legislation to implement it—to pass them by the end of this month.
Speaking just hours before a crucial vote of confidence in Parliament, Mr. Venizelos said both would have to be passed before euro-zone finance ministers meet July 3 to decide whether to give Greece the next tranche of an existing loan the country signed last year.
Previously, the government had said it would pass the overall austerity plan by the end of this month, but that a vote on the implementing legislation would follow some days later.
Calling on Parliament to support the government, Mr. Venizelos said "the austerity plan and implementing legislation must already be passed [by July 3] so as to convince our partners that we are serious and credible as a government, as a parliament, and as a country."
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