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Greece in CHAOS: Violence erupts in Athens as thousands protest against austerity cuts

Overall, the bill to be approved on Thursday night entails 4.9 billion euros ($5.4 billion) in cuts in 2018-2021, state agency ANA said.

The leftist government of Prime Minister Alexis Tsipras grudgingly accepted to legislate another round of pension cuts and lower tax breaks – applicable in 2019 and 2020 respectively – to unlock the cash payment ahead of looming debt repayments in July.

The tax break cut on its own “is tantamount to losing one-and-a-half (months’) salary”, Perrakis said.

In return, Greece will enact poverty support measures — such as subsidies on rent and medicine — over the same period of time.

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