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* Greeces parliament is expected to pass the second austerity bill today paving the way for the country to secure the 12 billion euro tranche from the European Union and the International Monetary Fund thus averting bankruptcy.  After pressure mounted from within the country, the EU, IMF and the world finally Greeces government has taken a positive step in avoiding default potentially triggering chaos in the financial markets.

* Paving the way for Socialist Prime Minister George Papandreou, the conservatives agreed to some measures in the second bill to pass it through Parliament.  We will do what we can to support the government, said New Democracy lawmaker Nikos Dendias, a former justice minister. We will vote for two chapters of the bill today.

* Debate resumed this morning and a vote is expected this afternoon with the votes being released shortly thereafter.  Papendreou has scheduled a meeting for after the vote.

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