Greek Parliament Approves 2016 Budget

Greek lawmakers approved a 2016 budget early on Sunday including more than 5 billion euros ($5.44 billion) in spending cuts and some 2 billion in higher taxes meant to satisfy international lenders.The leftist-led government of Prime Minister Alexis Tsipras...

Greek Parliament Approves 2016 Budget

Greek lawmakers approved a 2016 budget early on Sunday including more than 5 billion euros ($5.44 billion) in spending cuts and some 2 billion in higher taxes meant to satisfy international lenders.

The leftist-led government of Prime Minister Alexis Tsipras is under pressure to deliver tangible benefits to an austerity-weary public after having signed to a third rescue package from euro zone governments worth up to 86 billion euros.

The budget makes 5.7 billion euros in spending cuts, including 1.8 billion from pensions and 500 million from defense.

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