Australia’s Senate on Friday passed a A$42bn ($27.4bn) economic stimulus package it had blocked the day before, in an unexpected second vote after frantic overnight negotiations won a vital extra vote allowing the Labor government to override opposition from conservative parties. Independent South Australian senator Nick Xenophon switched sides after the government agreed to commit almost A$1bn to improving water flow in the ailing Murray-Darling river system.

This entry was posted by Gwen Robinson on Friday, February 13th, 2009 at 4:51 and is filed under Capital markets. Edit this entry.