Forex News – Greek government wins enough votes to pass property tax bill to receive further aid

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Greek Prime Minister George Papandreou’s government won a vote on Tuesday on passing a new property tax to meet deficit-reduction targets required to avoid default and bolster his chances of pushing through austerity cuts aimed at securing further international financial aid for the country.

A total of 155 lawmakers in the 300-strong chamber supported the motion and 142 voted against, Parliament Speaker Filippos Petsalnikos said in remarks carried live on state-run Vouli TV today. A total of 297 deputies voted.

Today’s vote also approved a bill to expand the European Financial Stability Facility, Petsalnikos said.

Meanwhile the Greek Prime Minister is currently in Berlin meeting with German Chancellor Angela Merkel who assured Germany will provide all help it can to stabilize Greece.

Merkel said “The priority is that markets regain confidence in Greece”

“Whatever Germany can offer in terms of help, we will offer,” she said. “We do this in a spirit of friendship, a spirit of partnership, not in a spirit of imposing something.”

Merkel urged German lawmakers to back an enhancement of the euro rescue fund in a vote in two days.

“If Europe isn’t doing well, then over the middle term Germany won’t do well,” Merkel said.