Greek parliament gives initial approval to austerity law

ATHENS - Greek lawmakers gave on Wednesday initial approval for an austerity law cutting wages and hiking taxes, crucial for the country to receive a next batch of bailout funds and avoid bankruptcy.
All 154 of the ruling Socialist PASOK party's deputies voted in favor of the law, despite violent anti-austerity protests outside parliament earlier in the day. The bill must be approved by article on Thursday to become law.
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