The Greek parliament has approved a bailout deal agreed with its European creditors, SIA reports.
The agreement, which came after weeks of negotiations with creditor representatives, is a step forward in the process of completing the bailout plan, bringing Greece closer to receiving much-needed funds.
The bill for the bailout approval had been fast-tracked through parliament, and lawmakers spent nearly 15 hours in debate from Thursday night to Friday morning before the bill was passed. Finance Minister Euclid Tsakalotos explained on Thursday that the rapid passage was needed so that he could try for a final approval from the Eurogroup, which is meeting on Friday.
The bailout agreement will provide Greece with installments of a total of about €86 billion ($95.5 billion) over three years, on the condition that the Greek government implements a series of important economic reforms – some of these have already been passed by parliament ahead of the agreement.
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