Greek MPs approve new austerity budget

  • Greek lawmakers have approved a 2013 budget giving way to fresh spending cuts.

    The budget was backed by 167 votes to 128 on Sunday. The bill is a pre-condition for Athens to be granted a $40 billion EU/IMF loan necessary to avoid bankruptcy.

    The move comes on the back of another austerity package of tax rises and pension cuts passed last week.

    Ahead of the vote, more than 10,000 protesters gathered outside the parliament in Athens.

    Prime Minister Antonis Samaras has warned that without the new loan, Greece would start running out of funds by Friday.