Euro steady as Greek MPs sign off on budget cuts

<p>The euro has steadied versus the dollar and pound after Greece’s 2013 budget was passed by MPs in Athens.</p>

The euro has held its ground versus the dollar and pound in forex trading this morning (November 12th) following news Greek politicians have approved a further round of hefty austerity measures.

MPs signed off on the budget for 2013 in Athens last night, paving the way for the debt-addled nation to receive its next tranche of financial aid from international lenders.

The bill was passed with a decent majority even though public protests and general strikes in opposition to the measures – which include redundancies and government spending cuts – have put pressure on decision-makers.

Thousands of Greeks congregated outside parliament in the capital's Syntagma Square calling for MPs to vote against the budget and chanting slogans such as "out with the IMF (International Monetary Fund)".

Prime minister Antonis Samaras warned Greece's coffers risked running dry this week without its next boost of financial aid, putting the nation in danger of defaulting on its massive public debts and being forced to leave the eurozone.

At 09:35 GMT, the euro was marginally higher in trading with the pound to €1 equalling £0.800, while it was largely stable against the dollar to $1.271.

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