Greek parliament approves more austerity

Greek parliament approves more austerity

POSTED: Thursday, November 8, 2012 - 9:00am

UPDATED: Thursday, November 8, 2012 - 9:04am

Greek stock markets were down about 3% in morning trading thursday, after the country's parliament narrowly backed more unpopular austerity measures. The approval of the austerity bill was a key step towards persuading Greece's international creditors to release the next $40 billion installment of the country's vital bailout loans.

Without it, the government has said the country will start running out of cash on November 16th. Meanwhile in the rest of European markets were mostly higher. Germany's Dax, the largest stock market on the continent, was up nearly half a percent in morning trading.


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