13 February 2012 Last updated at 06:59 ET
Banks were wrecked during rioting in Athens on Sunday
Greek bailout crisis: EU welcomes austerity vote
Banks were wrecked during rioting in Athens on Sunday
The European Commission has welcomed the Greek parliament's decision to approve new austerity measures.
Economics commissioner Olli Rehn urged Greek officials to "take ownership" and fully implement the reforms, which include huge cuts to jobs and wages.
Financial markets rose in trading after the austerity bill was passed.
But the measures attracted massive protests throughout Greece. Buildings were set on fire in Athens and police used tear gas to disperse the crowds.
Greece is trying to secure a a 130bn euro ($170bn; £110bn) bailout from the EU and IMF to allow it to repay its debts.
But the lenders have insisted that Athens implements deep cuts and austerity measures before the money is released.
It is the second major programme of cuts the Greek government has promised to carry out.
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