Socialists win austerity budget vote in Greece

Greece’s governing Socialists won a key budget vote calling for deeper austerity measures in the crisis-hit country and promising to avoid default despite a soaring national debt.

MPs voted 156-142 last night in favour of the 2011 budget, braving a third year of recession to trim €5bn off the budget deficit through higher consumer taxes and cuts in health and defence spending. Two opposition parliament members were absent.