Greek parliament passes austerity deal

Greece’s parliament late last night approved an austerity and debt-relief bill, crucial for the country to avoid bankruptcy and remain in the eurozone.

Politicians voted in favour of the bill that imposes harsh new austerity measures in return for a €130 billion new bailout agreement and related deal with private creditors to shave €100 billion off the country’s national debt.

The vote occurred after extensive rioting and looting swept through the Greek capital.