Greek parliament debates new austerity measures

The Greek parliament will this afternoon begin debating the new austerity package that has been demanded by EU leaders.

The Greek parliament will this afternoon begin debating a new package of tax increases and spending cuts which, if passed, will guarantee renewed funding from the European Union and IMF.

However the main opposition party has said it will vote against the deal, despite appeals for national unity from EU leaders.

Greek Prime Minister George Papandreou has a slim parliamentary majority and so it will be a significant test for him to get the deeply unpopular package through.

Following the debate a parliamentary ballot on the framework of the austerity package is expected to take place on Wednesday.

If the framework passes Greek lawmakers will then be asked to vote on a bill containing specific steps to implement the measures.