Greek cabinet backs sweeping austerity plan - source

ATHENS (Reuters) - Greece's cabinet approved a sweeping new austerity programme on Wednesday, the third in as many months, in a drive to rein in a bulging budget deficit and secure European financial support, a government source said.

"Measures which will yield 4.8 billion euros ($6.5 billion) have been decided," the source, who took part in the cabinet meeting, said. "Half will be from spending cuts and another 50 percent from tax increases."