Greek parliament approves crucial austerity bill

Published:

ATHENS, Greece (AP) -- Greece's parliament has approved an austerity and debt-relief bill, crucial for the country to avoid bankruptcy and remain in the eurozone.

Lawmakers voted early Monday in favor of the bill that imposes harsh new austerity measures in return for a €130 billion ($171 billion) new bailout agreement and related deal with private creditors to shave €100 billion ($132 billion) off the country's national debt.

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