Greek MPs vote unanimously to cancel pension cuts

Greek lawmakers have voted to cancel a major round of pension cuts which were to take effect on January 1, following a fast-track debate procedure in parliament. Lawmakers in the 300-seat parliament voted unanimously late on Tuesday in favor of canceling the cuts that would have been worth around 1 percent of Greece’s annual GDP, AP reported. The measures would have seen 1.4 million of Greece’s 2.6 million pensioners suffer monthly losses of at least 14 percent, according to estimates. International bailout lenders recently agreed the cuts were no longer necessary for a balanced budget.