Greece approves austerity budget amid new strike
14:50, 23 December 2010
ATHENS. December 23. KAZINFORM The Greek parliament has approved next year's budget, bringing in sweeping austerity measures; Kazinform refers to BBC News.
The budget imposes more spending cuts and tax rises, as required by the European Union and the International Monetary Fund in exchange for a bailout to tackle the country's debts.
Ahead of the vote, public transport unions protesting over cuts to wages staged another 24-hour strike.
The governing Socialists won the vote by 156-142.
The budget aims to effect a deficit of 7.4% of GDP next year, down from about 9.4% this year.
Greece needed to approve the budget to continue to receive a $144bn bailout fund created by European countries and the IMF.
Prime Minister George Papandreou insisted his austerity measures were working; Kazinform refers to BBC News.
See www.bbc.co.uk for full version.