Greece tipped to pass austerity bill

Greek MPs are poised to back the deeply unpopular austerity bill that is essential for the country to avoid a devastating default on its debts.

The bill, which aims to slash €28bn from the Greek budget, must be passed by parliament if international creditors are to release the next instalment of the country’s bailout fund – and prevent a default that could have huge repercussions in Europe’s banking sector and stoke renewed turmoil in global markets.