Greek parliament passes amendment needed for next tranche of bailout

Vote paves way for ministers to approve loan disbursement

Protesters shout slogans during rally in front of the parliament. Photograph: John Kolesidis /Reuters

Protesters shout slogans during rally in front of the parliament. Photograph: John Kolesidis /Reuters

Thu, Jul 25, 2013, 15:48

Greece’s parliament approved an amendment to the country’s public sector labour mobility plan that paves the way for the next tranche of its €240 billion bailout from the troika.

Politicians passed the amendment, which was added to legislation on a new tax procedure code, in a vote televised live on state-run Vouli TV.

The measure meets a requirement for Greece to issue all necessary legal acts to place 4,200 employees on the mobility plan before the end of the month.

The amendment was the last condition Greece needed to meet to receive a payment of €2.5 billion endorsed by euro-area finance ministers earlier this month.

The vote paves the way for euro area finance ministry officials to approve the loan disbursement on a conference call tomorrow and the German parliament to clear it by July 29th.