Debt crisis: Greece passes tough budget as country bids to unlock vital aid While Greece has approved its budget for next year, which includes tax rises and draconian spending cuts, worries still remain as the debt-laden country is yet to receive the next tranche of its bailout, which will stop the country defaulting as early as Friday, when €5bn of bonds are due to mature and be repaid. The attendees are expected to discuss the increasingly thorny subject of the EU's budget for 2014-20. The meeting comes as David Cameron starts a charm offensive with fellow EU leaders to try and drum up support for a real-terms freeze in the EU budget. He is expected to speak to peers in Netherlands, Sweden, Finland and Denmark. 08.22 First to start with Greece which last night saw its lawmakers approve the country's austerity budget, an essential step in Greece's efforts to persuade its international creditors to unblock a vital rescue loan installment without which the country will go bankrupt. The budget passed comfortably, by a 167-128 vote in the 300-member Parliament. It came just five days after a separate bill of deep spending cuts and tax hikes for the next two years passed through with a narrow majority following severe disagreements among the three parties in the governing coalition. Prime Minister Antonis Samaras pledged that the spending cuts will be the last Greeks have to endure. "Just four days ago, we voted the most sweeping reforms ever in Greece," he said. The sacrifices (in the earlier bill and the budget) will be the last. Provided, of course, we implement all we have legislated.  "Greece has done what it was asked to do and now is the time for the creditors to make good on their commitments," he stressed. 08.15 Good morning and welcome to the debt crisis live