After Papandreou and the new shuffled cabinet one the no-confidence vote in Parliament on Tuesday, they head straight to work on a tight timeframe agenda in hopes to secure the implementation of the new austerity measures in time to receive the 12 billion euro tranche from the EU and IMF as part of last year's bailout to remain solvent.
The Cabinet on Wednesday approved the austerity measures for 2012 through 2015 and signed on the laws needed for the measures application. Greece had to go through with the strongly and widely rejected austerity measures in the nation that triggered massive strikes in objection to the measures and in hopes to add more pressure on the Parliament to reject the new terms.
Papandreou was cornered by international lenders and had to accelerate the fiscal solidarity plans by selling government assets of 50 billion euros and implement additional spending cuts of 28 billion euros that the cabinet endorsed.
The focus now turns to Papandreou as he heads to the EU Summit in Brussels that starts later today and continues Friday on hope of some breakthrough in aid talks for the debt-laden nation.
The next step in the austerity and the implementation law will be submitted to the parliament this Friday and pending the vote by June 28.