Greece vote a ‘moment of truth’ for EU

GREECE cleared its first hurdle in getting a vital €12 billion loan to pay debts next month and avoid default as the government won a vote of confidence.

Described as a “moment of truth” by European Commission president Jose Manuel Barroso, it did not deter 7,000 protesters from gathering in Athens to campaign against another round of austerity.

The country’s new finance minister, Evangelos Venizelos, appealed for a patriotic vote to save the nation and promised to achieve the cuts and fundraising targets more quickly than the EU/IMF programme agreement. The vote was carried by 155 to 143 with two abstentions as all the Socialist ruling party deputies voted in favour.