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Greece Braces for More Austerity Amid EU-IMF Quarrel About Debt

  • PM Tsipras faces parliamentary test in belt-tightening vote
  • Creditors at loggerheads over debt-relief measures needed
Greek government and bank officials have argued that the controls -- introduced in June to limit ATM withdrawals and overseas transfers -- can be lifted by the start of 2016, after Greece’s banks have been recapitalized.
Photographer: Yorgos Karahalis/Bloomberg

Greek Prime Minister Alexis Tsipras braces for yet another vote on additional austerity measures, as European creditors remain at loggerheads with the International Monetary Fund about how much debt relief the country will get for its pain.

Lawmakers in Athens are scheduled to vote Sunday evening on an omnibus bill that includes measures ranging from the taxation of diamond dust and coffee to the transfer of thousands of real estate assets from the state to a new privatization fund. The debate will test the resilience of Tsipras’s three-seat parliamentary majority, as euro-area states resist calls from the IMF to set less ambitious fiscal targets and hand Greece more generous debt relief.