Greece presents last tweaks to austerity program

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Associated Press

Posted on November 19, 2012 at 9:35 AM

Updated Monday, Nov 19 at 10:02 AM

ATHENS, Greece (AP) — A day before it hopes to secure release of a vital rescue loan payment, the Greek government has presented emergency legislation to tidy up the last loose ends in its austerity commitments to bailout creditors.

The two legislative acts published Monday must be approved by Parliament within 40 days.

They cover spending cuts and reforms, from increasing state spending accountability to reducing the pensions of Parliament employees — a pampered group of state employees that includes politicians' relatives.

On Tuesday, finance ministers from Greece's euro partners are expected to decide whether to release a €31.5 billion ($40.2 billion) loan installment.

Earlier this month, the government passed a new massive austerity program demanded to qualify for the loan.

Finance Minister Yannis Stournaras says Athens has now met all necessary requirements.

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