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Greece Approves Package of Reforms

ATHENS, July 16, 2015 – The Greek parliament approved a package of wide-reaching reforms that are a condition of a third bailout from lenders. In the early hours of Thursday morning, the austerity bill that will pave the way for financial aid worth 86 billion euros (U.S.$94 billion) was approved with 229 votes in the 300-seat chamber. There were 64 votes against it and six abstentions.The approval was a necessary step to move forward with a new bailout, to pave the way for a bridge loan, and to get the European Central Bank (ECB) to increase Emergency Liquidity Assistance (ELA) access for Greek banks.

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