Greek political leaders have finally struck a deal on new austerity measures demanded by creditors to secure a 130-billion euro bailout to avoid default and keep the country afloat, local media reported on Thursday.
A spokeswoman for Prime Minister Lucas Papademos' office said the agreement among the Greek political parties would allow alternative cuts to those that were rejected earlier on Thursday.
The deal was struck just hours before a crucial meeting of finance ministers from the 17 euro countries in Brussels to decide on the bailout package for Greece teetering on the brink of financial collapse.
Last night, Greece's main political parties approved a number of austerity measures - except a pension cut - as agreed previously with the troika of international lenders comprising the European Central Bank, the European Commission and the International Monetary Fund.
Greece has been receiving financial support from the EU and the IMF since May 2010 to reduce the country's large budget deficit. However, the austerity measures approved by the government have sparked numerous riots and strikes, and the Greek government has missed its targets.
