The new measures include a streamlining of the civil justice process, cutting down on government costs. The reforms also institute a restructuring of bank liquidation, forcing failing banks to repay shareholders before customers.
The new austerity measures are in addition to those passed last week which increase taxes and cut pensions.
Prime Minister Alexis Tsipras had pushed for the parliament’s approval, but a large number of his Tsipras’ own Syriza party went against those wishes during last week’s vote. After a major reshuffling of his cabinet, the majority of Syriza MPs still voted against the latest round of reforms.
More about:
