UPDATED - SCROLL DOWN - GREEK PARLIAMENT PASSES AUSTERITY CUTS; NOW, WILL THE EU STEP BACK AND AGREE IT'S ENOUGH?

UPDATE: UPDATE: UPDATE: 

Eurozone ministers must now ratify the measures at a meeting in Brussels on Wednesday before bailout funds can be released.
The ministers rejected proposals put forward by the Greeks last week, which they said fell 325m euros short of the cuts needed.

IF THEY DON'T REJECT IT, THEN I PREDICT THE MARKETS WILL... STAY TUNED...

As hooded youths torched shops and battled police in the streets of Athens on Sunday, lawmakers approved a tough austerity package that is expected to help the country avoid default. 

A deputy from the Communist Party, Giorgos Mavrikos, threw his copy of the austerity bill at Evangelos Venizelos, the finance minister, during the debate on Sunday. 

Out of the 300 members of Parliament, 199 voted yes, 74 voted no, 5 voted present while 22 were absent. 

Lawmakers accepted the plan after Greece’s so-called troika of foreign lenders — the European Commission, the European Central Bank and the International Monetary Fund — had demanded the measures in exchange for about $170 billion in bailout money. The troika had also made passage a condition for sealing a deal in which private creditors will take voluntary losses of up to 70 percent of Greek debt.

BUT THE EU'S FINANCE MINISTERS HAVE ALREADY SAD THIS DEAL IS INADEQUATE AND HAVE GIVEN THE GREEKS UNTIL WEDNESDAY TO COME U WITH EVEN MORE CUTS:

After initial optimism that Greece's political parties had finally reached an agreement on austerity measures yesterday, Eurogroup members subsequently rejected the proposals late in the evening, and demanded Greek Finance Minister Venizelos return to Athens to procure deeper cuts. It appears that EU policymakers are not yet willing to sign off on the deal until Greece shows a deeper commitment to carrying out austerity measures, and have set a new deadline of next Wednesday (when another Eurogroup meeting has been scheduled) for the Greeks to produce something more impressive.

IT AIN'T OVER YET: STAY TUNED...

THE EU FM'S MIGHT BLINK, BUT THE MARKETS HAVE A SAY IN THIS TOO...

REPEAT: STAY TUNED...

UPDATE: THIS JUST IN:

THERE'S ALWAYS A DRUMMER AT THESE LEFTIST/ANARCHIST NIHILIST CONVENTIONS:

OH, LOOK: HE'S WEARING A PALESTINIAN SCARF...