Cyprus Mail

Greek parliament approves bailout reforms before Eurogroup meeting

Greek lawmakers approved on Sunday a bill which increases tax, creates a new privatisation fund and frees up the sale of non performing loans in exchange for much-needed bailout loans and to qualify for debt relief.

Athens hopes the vote, two days before a key euro zone finance ministers’ meeting, will help it wrap up a key bailout review and unlock new funds that it needs to pay IMF loans, ECB bonds maturing in July and increasing state arrears.

The left-led government has a narrow majority of 153 lawmakers who voted in favour of the reforms except one MP who approved the bill in principle but voted against some of the articles.

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