Greek new coalition government wins confidence vote

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Greece's new coalition government, led by Prime Minister Lucas Papademos, has secured enough votes to win a parliamentary vote of confidence, receiving a mandate to push through budget measures necessary to secure financing designed to avert a collapse of the economy and keep Greece in the eurozone.

Greeces new government consisting of the majority Socialists, rival conservatives, and a small right-wing nationalist party... won a confidence vote in parliament with a comfortable majority.

Greek Prime Minister Lucas Papademos delivers a speech during a parliament's meeting in Athens,
Greece, Nov. 16, 2011. The Greek interim coalition government led by new Prime Minister Lucas
Papademos won easily on Wednesday afternoon a confidence vote in the parliament. (Xinhua/Marios
Lolos)

A total of 225 lawmakers in the 300-strong chamber supported the confidence motion and 38 were against.

The parliament is backing a pledge by Prime Minister Lucas Papademos to speed up long-term reforms and secure a massive new bailout deal involving banks and rescue creditors.

The Prime Minister now faces a daunting task of repairing shattered public finances of Greece.

Pap! ademos h as the backing of three out of four Greeks.

But the need to implement painful tax rises and spending cuts to secure fresh loans and stave off bankruptcy will test that support.

Papademos must secure a tranche worth 8 billion euros in loans the country needs by the middle of next month to meet debt repayments.

He must then lock down a new bailout worth 130 billion euros. Greece needs some 80 billion euros of that second rescue package in early 2012.

Editor:Zhang Rui |Source: CNTV.CN



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