Greek Goverment Survices No-Confidence Vote

Greece’s coalition government won a confidence vote Monday called by the left-wing opposition but saw its parliamentary majority cut by one seat.

Socialist deputy Theodora Tzakri was expelled from the party after refusing to back Conservative Prime Minister Antonis Samaras’ 15-month-old government in the vote held in the 300-seat parliament early Monday.

Samaras saw his support cut to 154 deputies — just three above the minimum required — after Tzakri was declared an independent.

Samaras formed the coalition after the June 2012 election and has pushed through unpopular austerity measures demanded by international lenders in return for the country’s 240 billion-euro ($322-billion) bailout.

Tzakri, a 43-year-old former deputy interior minister, accused the government of planning deeper austerity cuts in a country that is already reeling from unemployment, job cuts and higher taxes.

“The Greek people are being wiped out by constant cuts and taxes, prospects of growth are being put off, and the government’s only concern is how it will sell another round of taxes and cuts to the public,” Tzakri said in a statement.

via The Washington Post

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza