Italy's Senate approves emergency austerity plan

MADRID (MarketWatch)
Italy's Prime Minister Mario Monti secured approval for his €30 billion ($39 billion) emergency austerity package, media reports said.
The package won a final confidence vote in the Senate after a lengthy debate Thursday evening.
Italy's two main parties, the center-right People of Freedom and the center-left Democratic Party, have opposed the plan, but backed it in the end "for a sense of responsibility."
Monti had called a confidence vote in both parliament chambers to try and speed up the package.
The lower house of parliament passed the package last Friday.