Vote on bailout vote looming in wake of explosive IMF report
Greece prepared on Wednesday for a parliamentary vote on draconian reforms demanded by eurozone creditors in exchange for a huge new bailout, just hours after a bombshell report from the International Monetary Fund criticized the deal.
The outcome of the crucial vote was far from clear after the IMF issued a stark warning that Greece would need far more debt relief to stop it crashing out of the common currency than European governments have been willing to contemplate.
The last-ditch deal struck on Monday saw Prime Minister Alexis Tsipras agree to sweeping changes to labor laws, pensions, VAT and other taxes - many of which had been rejected by voters in a public referendum - in exchange for new funds to keep Greece's struggling economy alive.
