Greek parliament votes on revised 2013 budget

2013 budget bill is in line with new austerity...

Flickr-kenteegardin

Following the vote on a new package of austerity measures worth €13.5 billion, the Greek parliament votes on a revised budget for 2013, proposed by the country's Prime Minister Antonis Samaras. 

Both the reforms and the budget must be passed by the parliament in order for Greece to receive its next bailout installment of €31.5 billion, without which the country would run out of cash. The desired extension of Greece's bailout terms is also dependent on the votes.

All three parties supporting the government, including the right wing New Democracy, Social-democratic PASOK and left wing Democratic Left, are expected to vote for the budget, even though the MPs of the latter oppose the austerity measures.

Amid public protests against the country's fourth austerity package, Samaras has insisted that these cuts will be the "very last."

"We promised to avert the country's exit from the euro and this is what we are doing. We have given absolute priority to this because if we do not achieve this everything else will be meaningless," said the prime minister, claiming that eurozone exit would lead to an 80 percent drop in the standard of living in Greece.