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Tuesday, December 15, 2015

Greek parliament passes reforms in exchange for bailout funds

Greece's parliament approved a bill on Tuesday with reforms demanded by the country's international lenders in exchange for 1 billion euros ($1.10 billion) of bailout funds which Greece needs to pay off state arrears. Prime Minister Alexis Tsipras' leftist-led government agreed to enact a set of reforms, including changes in the public sector wage grid and opening up the market for banks to dispose of corporate non-performing loans, to qualify for the new funds. The coalition of Tsipras' leftist Syriza party and the right-wing nationalist Independent Greeks has a majority of just three lawmakers in the 300-seat parliament.


READ THE ORIGINAL POST AT uk.news.yahoo.com