(VIENNA) - The Austrian parliament on Wednesday ratified the so-called Lisbon Treaty, aimed at streamlining the European Union's operations and institutions.

The document, backed by the ruling Social Democrats and conservatives, as well as the opposition Greens, was ratified by 151 votes to 27. Only the two opposition far-right parties fought the move.

Parliament's plan to ratify the new EU treaty met with strong opposition in recent days, with thousands protesting in the streets of Vienna and over 100,000 people signing a petition demanding a referendum on the treaty.

Austria is the eighth country to ratify the document after Hungary, Slovenia, Malta, Romania, France, Bulgaria and Poland.

The Lisbon Treaty, which replaces a draft constitution rejected by French and Dutch voters in 2005, must be ratified by all 27 members before it can come into effect in 2009, as planned.

Only Ireland is holding a referendum on the treaty.

Lawmakers showed off their national colours Wednesday in parliament. Far-right deputies boasted red and white football scarves, the conservatives wore ties with red and white stripes, and Foreign Minister Ursula Plassnik, a conservative, combined a red jacket with white trousers.

Only a few EU flags on conservative deputies' seats indicated that his was a European issue.

"This reform treaty is a step in the right direction," said Social Democrat Chancellor Alfred Gusenbauer, although he noted that the EU's 27 member states "are not prepared to take on more of Europe."

Opposition Green party leader Alexander Van der Bellen meanwhile argued that the benefits from the treaty were greater than its faults.

"Austria alone will not have a chance against large multinational companies, it can only survive within the European Union," he said.

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