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

    How different voting systems work around the world

    How different voting systems work around the world

    Nearly two billion voters in 52 countries around the world will head to the polls this year to elect their leaders.

    How Moscow lost Riyadh in 1938

    How Moscow lost Riyadh in 1938

    Russian-Saudi relations could be very different today, if Stalin hadn't killed the Soviet ambassador to Saudi Arabia.

    The great plunder: Nepal's stolen treasures

    The great plunder: Nepal's stolen treasures

    How the art world's hunger for ancient artefacts is destroying a centuries-old culture. A journey across the Himalayas.