On with the 5 year-plan.
Greece's parliament approved a five-year austerity plan on Wednesday with 155 votes in favor and 138 votes against, suggesting Prime Minister George Papandreou was on track to win backing for a second law on Thursday. Only one member of Papandreou's Socialist party voted against the law and the speaker of parliament announced he had been immediately expelled from the party. One deputy from the conservative opposition cast a vote in favor.
The European Union and International Monetary Fund has insisted that Greece pass both Wednesday's 28-billion-euro austerity law and Thursday's specific legislation to implement it before disbursing the next 12 billion euro tranche of Greece's bailout program the country needs to avoid default next month.