Greek parliament votes on austerity package

Parliament of Greece

Flickr-PASOK

Greece's parliament is to vote on a new austerity program 

-aiming to save almost €14 billion- in order to receive the next bailout installment worth €31.5 billion. 

The session comes a week after Greece reached an agreement with its international creditors on new austerity measures. The parliamentary vote was originally scheduled for October 30, but was delayed because one of the coalition parties, the Democratic Left, refused to back the plan.

"The Democratic Left has fought on the issue of labour relations, to protect workers' rights which have been already weakened," said the party in a statement. "It does not agree with the result of the negotiations. The Democratic Left sticks to its position."

Greek Finance Minister Yannis Stournaras denied rumors that the austerity deal could be modified in order to appease the Democratic Left. 

Without the next tranche, Greece could run out of money by the end of November.