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Greek prime minister lucas papademos denounced the violence. a difficult session. >> we face a very, very tough but a very, very crucial decision. the greek parliament will send a message of responsibility. a message of sense of duty to the people of greece and to the people of europe. >> reporter: in the midnight hour, the parliament approved a bailout deal by a wide margin. under the plan, greece will receive $170 billion in rescue loans by the european union and international rescue fund. it's a life raft from agencies. but greek citizens will feel the blow. 150,000 public sector jobs will ...

Greeks understand that austerity measures are necessary, but they view -- at least the tens of thousands in the streets last night, viewed this latest round as a step too fascial, but that's not what government officials are saying. the prime minister of this country literally coming out and saying that greece is a breath away from ground zero, meaning bankruptcy next month. if they don't get this $170 billion loan from the eu and imf. the only way to get that loan, or at least open the way to get that loan was by passing these austerity measures. that's what they did last night. multiple buil...

The president's budget has $1 of revenue for every $2.5 of spending cuts. it can be done when we work together. >> welcome back to "morning joe" at 22 past the hour. greece is on its way to getting $170 billion in bailout money after its parliament approved harsh new austerity measures. the crucial vote passed as rioters angry with drastic cuts clashed with police and torched buildings across athens. we have the editor and chief of "town and country" magazine. the burning question is will the ship owners make the sort of financial investment at home that could save their country? the answer is...

Cuts and elimination of 15,000 jobs. this paves the way for greece to receive about $170 billion of loan from foreign lenders to keep the country from default on its debt. ahead of the vote, violence erupted in seven cities, including the capital of athens. some european leaders are still questioning whether greece can recover from its crippling recession. for more on this, we go to cnbc's steve sedgwick. he's live in london for us. good morning. explain to our american viewers seeing the pictures, why the people of greece are in the streets. >> yeah. they're in the streets because they believ...

It went wrong 10, 15 years ago, hid what's happening, what went wrong in spain. we still have a chance. we've got to take it. >> yep. >> we can talk about this because greek lawmakers voted to approve tough new austerity measures. a plan that triggered the country's worst rioting in years. look at this video. the deal would slash $4 billion from the budget and call for a harsh pension cuts and elimination of 15,000 jobs. it paved the way for greece to receive about $170 billion in loans from foreign leaders to keep the country from defaulting on its debt. violence erupted in seven cities inclu...