Greek Prime Minister Antonis Samaras mustered the support of enough lawmakers to secure approval of austerity measures that will unlock bailout funds, after more than 50,000 protesters ringed Parliament.
“Today, here, we have to put a stamp on Greek credibility,” Samaras said before the vote. “We decide if we want to stabilize Greece or to end up outside the euro and return to the drachma. We decide whether we want to exit the crisis united.”
Samaras fought to stem defections from his three-party coalition as European Union leaders including German Chancellor Angela Merkel seek signs that his government is serious about staying in the euro. Backing from his New Democracy party and the socialist Pasok party gave Samaras support.
Approval of the legislation, which raises the retirement age by two years to 67 and cuts wages and pensions a second time this year, is the first of the votes required by Monday to get a 31 billion-euro ($40 billion) aid tranche and avert a financial collapse that may drive the country from the euro. Parliament will convene again Sunday to vote on the 2013 budget, a day before euro area finance ministers meet to discuss whether to unlock the funds.