Greece to approve new austerity cut

ATHENS: Greece’s parliament yesterday was to approve a new round of austerity cuts, hoping to secure a pledge of debt relief by the country’s creditors this month. Leftist Prime Minister Alexis Tsipras has a slim majority in parliament sufficient to pass the bill. Overall, the bill to be approved entails €4.9 billion (RM23.4 billion) in cuts in 2018-2021. Tsipras grudgingly accepted to legislate another round of pension cuts and lower tax breaks to unlock the cash payment ahead of looming debt repayments in July.