Greece set to back new bailout deal

Greece’s Parliament is set to approve the debt-crippled country’s new international bailout deal as Communist party supporters prepare to protest against the austerity being imposed.

Politicians will vote later today on the multibillion-euro rescue loan package.

It is expected to pass easily with the support of the majority Socialists and conservative New Democracy.

The two parties have joined in a coalition government under former central banker Lucas Papademos.

Formed in November, the government was tasked with saving Greece from looming bankruptcy by securing the new bailout and seeing through a massive writedown of the country’s privately-held debt.

That mission is expected to be completed in weeks, after which Mr Papademos will call national elections.