Greece approves reform bill, eyes bailout tranche
Written by Taiwo Adediran on November 11, 2015
Greece’s parliament approved early today a bill with reforms prescribed by the country’s international lenders, ahead of a euro zone finance ministers meeting in three days which will decide if Athens qualifies for fresh bailout funds.
Greece needs to legislate a series of reforms to pass the first review of a new bailout worth up to eighty-six billion euros it signed up to earlier this year. It must also revamp its banking system by the end of the year to start talks on much-needed debt relief which Prime Minister Alexis Tsipras has made a priority. A majority of lawmakers in the three hundred-seat parliament approved a bill which improves on previous legislation for the calculation of pensions, forces Greece to comply with EU energy efficiency rules, lifts obstacles for the sale of Greece’s largest port and scraps tax breaks for farmers.