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29 Apr 2013
Greece passes bill to unlock further aid
FXstreet.com (Barcelona) - The Greek government ratified on Sunday new reforms in the country's law in order to meet requirement set by international lenders to receive an additional €8.8 billion in loans from the EU and IMF.
The bill passed without much opposition, with the total counting standing at 168 vs 123 votes, after being backed up by the three parties that form the current Greece ruling coalition government.
According to Greek finance minister Yannis Stournaras, cited by Reuters, the European Union is due to approve a delayed €2.8 billion($3.65 billion) in rescue loans, with a further €6 billion payment due on May 13 when EU finance ministers meet again.
The new controversial law promotes an easier procedure to lay off government employees on bad conducts, extends the property tax, and inflicts further pain to the population on other unpopular measures.
The bill passed without much opposition, with the total counting standing at 168 vs 123 votes, after being backed up by the three parties that form the current Greece ruling coalition government.
According to Greek finance minister Yannis Stournaras, cited by Reuters, the European Union is due to approve a delayed €2.8 billion($3.65 billion) in rescue loans, with a further €6 billion payment due on May 13 when EU finance ministers meet again.
The new controversial law promotes an easier procedure to lay off government employees on bad conducts, extends the property tax, and inflicts further pain to the population on other unpopular measures.