The austerity bill sets out 3.3 billion euros ($4.35 billion) in wage, pension and job cuts as the price of a 130-billion-euro rescue package from the European Union and International Monetary Fund Greece's second since 2010. Greece needs the funds before March 20 to meet debt repayments of 14.5 billion euros and the bill has stirred anger on the streets and turmoil within the coalition government. Addressing the nation late on Saturday, Papademos warned that failure to back the bill would mean a disorderly default and " set the country on a disastrous adventure" . " It would create conditions of uncontrolled economic chaos and social explosion," he said. " The country would be drawn into a vortex of recession, instability, unemployment and protracted misery and this would sooner or later lead the country out of the euro." Greece's Communist Party accused him of " lying and scaremongering" . But euro zone paymaster Germany ratcheted up the pressure, saying Europe needed action, not words. " The promises from Greece aren't enough for us any more," German Finance Minister Wolfgang Schaeuble said in an interview published on Sunday in Welt am Sonntag newspaper. German opinion polls show a majority of Germans are willing to help, Schaeuble said, " but it's important to say that it cannot be a bottomless pit.

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