Greek Lawmakers Clear Way for $2.3 Billion in Bailout Funds
ATHENS — Greek lawmakers, despite heated debate, approved a package of economic changes and austerity measures early Saturday, taking a step toward unlocking the first slice of loan money from the country’s nearly $98 billion international bailout program.
The legislation covers some of the economic changes sought by the country’s international creditors, which include raising the retirement age, cutting pensions, liberalizing the energy market, opening up cosseted professions, expanding a property tax that Greeks already revile, and pushing forward a stalled program to privatize state assets.
Passing the package paves the way for Greece to receive the first 2 billion euros, or about $2.3 billion, from the bailout program.
It is only the first in a series of changes and austerity measures the Greek Parliament will be asked to approve in coming months to meet benchmarks set by Greece’s international creditors, who plan to dispense money in allotments as the country hits those targets.
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