Greek parliament approves budget

Greece's parliament has approved the 2011 budget, which calls for deeper austerity measures, despite protests from labor unions and some Socialist MPs.

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Greece's parliament has approved the 2011 budget, which calls for deeper austerity measures, despite growing protests from labour unions and increasingly vocal criticism from within the governing Socialist party.

MPs early on Thursday voted 156-142 in favour of the 2011 budget, which would trim another 5 billion euros ($A6.56 billion) off the country's budget deficit despite a third year of recession.

Greece's debt-to-GDP ratio is set to exceed 150 per cent in 2011, from 127 per cent in 2009, leading to ongoing fears of eventual default.


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Source: AAP



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