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Published on Feb 13, 2012
The Greek parliament has approved new harsh austerity legislature needed to secure a 130-billion-euro bailout from the EU and the IMF in efforts to avoid devastating default. This comes amid violent riots against the vote in Athens. The lawmakers voted early Monday in favor of the bill that will cut 15,000 public-sector jobs and lower the minimum wage by 20 per cent. Patrick Young, from investment consultants, DV Advisors, says whatever happens in Greece, there's no saving it from a collapse that will be felt across Europe.