Greek govt to present new austerity budget

The new Greek government is to present a fresh austerity budget for approval in parliament this morning.

Auditors from the European Union, the European Central Bank and the International Monetary Fund have arrived in Athens for negotiations on the most recent bailout.

The rescue plan - the second in two years - will give Athens €100bn in loans and €30bn to recapitalise its banks.

But its ratification has been held up by the political crisis that saw the formation of a temporary unity government under former European Central Bank deputy chief Lucas Papademos last week.