Euro Crisis

Greece Again on the Economic Brink

Just jump, already


Not too long ago, the only people who would watch votes in the Greek Parliament were those paid to do so as part of their jobs. Over the last couple of years, though, ballots in the historic and often raucous Parliament House have become required viewing for audiences around the world. It seems that every few months Greece's future hangs on the voting intentions of a handful of deputies that hardly anyone outside their constituencies knows. This week, the world is in for another tension-filled episode of this particular Greek drama.

Greece's 300 MPs are being called upon to approve the structural reforms and fresh spending cuts demanded by the country's lenders. If the bills pass, the euro zone and the International Monetary Fund will allow the disbursement of Greece's next bailout installment of 31.5 billion euros ($40 billion). However, some coalition MPs have already said they will not approve the measures. If the three-party government fails to get the majority it needs, it will likely collapse and Greece's relationship with the euro will enter a new realm of uncertainty.