Greece begins sell-off to counter debt crisis

Sale of leases on state property and land for tourist development among assets up for grabs.

    " />

    Greece's ruling socialist party has passed a second austerity bill needed to implement an austerity package to secure more funds from the European Union and the International Monetary Fund.

    The vote saw 155 members of parliament voting in favour of the bill, 136 voting against and five abstentions.

    The Greek government will now start to implement harsh cuts, but it also has plans to make money - many of which are proving to be controversial.

    Athens wants to raise $72bn in the next four years by selling off state assets.

    The state lottery, water companies, electricity and gas monopolies are among those up for grabs. Also for sale are leases on state property and property for tourist development.

    Tania Page reports from Athens, the Greek capital.

    SOURCE: Al Jazeera


    YOU MIGHT ALSO LIKE

    The woman who cleans up after 'lonely deaths' in Japan

    The woman who cleans up after 'lonely deaths' in Japan

    When somebody dies lonely and alone, Miyu Kojima steps in to clean their home and organise the mementos of their life.

    Putin and the 'triumph of Christianity' in Russia

    Putin and the 'triumph of Christianity' in Russia

    The rise of the Orthodox Church in Russia appears unstoppable, write filmmakers Glen Ellis and Viktoryia Kolchyna who went to investigate the close ties between the church and Putin.

    The chill effect: Is India's media running scared?

    The chill effect: Is India's media running scared?

    Much of India's media spurns a scoop about the son of PM Modi's right-hand man. Plus, NFL as platform for race politics.