* Greek austerity vote concerns keep markets on edge
* Italian bank shares slip on deepening euro zone crisis
* Concerns outweigh better-than-expected economic data
* U.S. durable goods orders, German sentiment improve (Adds fresh market prices)
By Herbert Lash
NEW YORK, June 24 (Reuters) - The euro fell and global stocks slipped on Friday as concerns the Greek parliament may fail to pass the austerity measures that are critical to securing more bailout funds outweighed better-than-expected U.S. and German economic data.
The euro slid against the dollar for a third straight session and it hit a record low against the Swiss franc as investors sought traditional safe havens. For more, see: [ID:nN1E75N0B4]
European shares extended their slide to eight consecutive weeks, the longest losing streak since 1998, with Italian banks falling heavily as worries about Greece's debt crisis deepened. On Wall Street, stocks headed for three days of losses, with U.S. banks also pressured by the European debt crisis.
"There's been a flight out of banks, even the stronger ones," said Colin McLean, managing director at SVM Asset Management in Edinburgh.
"There's an increasing feeling in the market that some form of default in Greece is absolutely necessary. Even if they vote for austerity, they won't necessarily carry it through."
The STOXX Europe 600 Banking Index <.SX7P> of 50 shares fell 2.9 percent; it is down nearly 10 percent this year.
In Italy, UniCredit
In currencies, the euro
The U.S. Dollar Index <.DXY>, a basket of trading partner currencies, rose 0.1 percent.
Concerns about the simmering European debt crisis trumped better-than-expected data on durable goods orders in the United States and German sentiment.
May durable goods orders rose 1.9 percent after dropping 2.7 percent in April, the Commerce Department said. Economists had expected May's orders to rise 1.5 percent.
The Munich-based Ifo think tank said its business climate index, based on a monthly survey of some 7,000 firms, rose to 114.5 in June from an originally reported 114.2 in May.
"The market is very jittery today. The economic data is being pushed to the back burner mainly because there is so much uncertainty as to whether the Greek government is going to pass the austerity measures," said Boris Schlossberg, director of FX research at GFT in New York.
Greece's parliament is scheduled to vote on the austerity plan on Wednesday and Thursday. For a timeline see: [ID:nLDE75K1EC]
World stocks as measured by MSCI's all-country world index <.MIWD00000PUS> turned lower, falling 0.1 percent, after earlier gains.
The Dow Jones industrial average <.DJI> was down 75.23 points, or 0.62 percent, at 11,974.77. The Standard & Poor's 500 Index <.SPX> was down 10.65 points, or 0.83 percent, at 1,272.85. The Nasdaq Composite Index <.IXIC> was down 26.64 points, or 0.99 percent, at 2,660.11.
The FTSEurofirst 300 <.FTEU3> index of top European shares closed down 0.1 percent at 1,074.16 points.
U.S. Treasuries prices edged higher as the steepening stock market losses fed investors' appetite for safe-haven U.S. government debt.
The benchmark 10-year U.S. Treasury note
Safe-haven German Bund futures edged to a seven-month high.
[ID:nLDE75N1EG] and
Oil prices extended their decline after Thursday's sharp sell-off on , though losses were more moderate as the impact of a surprise announcement on the release of emergency fuel stocks from consumer nations faded. [ID:nL3E7HO07J]
ICE Brent August crude
Brent fell about 6 percent on Thursday after the International Energy Agency announced the release of 60 million barrels of government-held stocks over the next 30 days. (Additional reporting by Gertrude Chavez-Dreyfuss, Ellen Freilich and Robert Gibbons in New York; Marie-Louise Gumuchian, Atul Prakash, William James and Claire Milhench in London; Writing by Herbert Lash; Editing by Leslie Adler)