Fifth austerity package (Greece)

The fifth austerity package is the fifth in a row of countermeasures of the Greek government to counter the Greek government-debt crisis. It was aimed to ensure the 6th bailout instalment for Greece. The representatives of creditors required Greece to take new measures in order to limit the state expenditures. That was one of the conditions so that the financing of Greek economy to continue normally. The new bill (frequently is called multi-bill) hit mostly the civil servants and the retirees. It was voted by the Greek parliament on 20 October 2011 amid protests. A man was killed during the demonstration of Syntagma Square. Few days later the European countries ended up to an agreement for haircut of Greek debt.