ROUND 2: Papandreou Has The Votes To Implement Austerity Measures

Boxing Punch Knockout Fight

Greek PM Papandreou has the votes for new austerity measures, according to Bloomberg.

That means we’ve got a deal done on austerity in Greece, in full. All we need now is approval from the IMF and EU, and that could be sorted out this weekend.

EARLIER: The Greek parliament is holding its second vote on austerity measures.

This one is about implementing austerity measures. The issue is whether or not the implementation program is changed in such a way that it jeopardizes the approval of EU/IMF officials.

If it’s is passed as is right now, it’s likely the EU/IMF will be pleased, but we won’t know for sure until the those officials send the signal this weekend.

But if all goes to plan, bailout 2 could be in place by July 3.

Don’t miss: The 20 institutions most exposed to the Greek crisis >

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