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Greece’s Lenders Welcome Approval of Second Reforms Package

© AFP 2023 / PHILIPPE HUGUENA person holding a 1 euro coin (R) and Greek 1 drachma coin in front of a Greek national flag
A person holding a 1 euro coin (R) and Greek 1 drachma coin in front of a Greek national flag - Sputnik International
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Greece’s major international lenders welcomed the news that a second set of measures had been approved earlier in the day, making a third bailout possible, Deputy Chief Spokesperson of the European Commission Mina Andreeva said.

BRUSSELS (Sputnik) — In the morning session, the Greek parliament passed a second list of reforms, required by the creditors as a precondition for a $95-billion rescue loan. The legislation included new banks regulations and reforms to the justice system.

On July 13, the Eurogroup agreed a new bailout for Greece, with $95 billion to be given to the country over the next three years in exchange for economic reforms and additional austerity measures.

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Greek Parliament Approves Second Round of Austerity Reforms
Two days later, Greece approved the first set of reforms that focused largely on tax hikes and budget amendments.

The European Commission offered Athens a short-term bridge loan worth at least 7 billion euro ($7.6 billion), which Greece used on Monday to make debt repayments to the ECB and the IMF.

Greece has received about $270 billion from its main lenders, the European Union, the International Monetary Fund (IMF) and the European Central Bank (ECB), under two bailout programs, the last of which expired on June 30.

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