Eurogroup agrees 8.5 billion euro bailout distribution to Greece

Brusseles June 16 (IANS) The Eurogroup agreed to distribute a long-delayed bailout payment worth up to 8.5 billion euros ($9.47 billion) to Greece the Eurogroup Chief Jeroen Dijsselbloem said in Luxembourg on Thursday.

It marked a major step forward for Greece. Athens was expected to receive the fresh disbursement to cover its current needs Xinhua quoted Dijsselbloem as saying after the Eurogroup meeting.

The Eurogroup s decision came following Greek lawmakers approval of fresh measures for the second review of the country s bailout programme which was composed of an income tax reform broadening the tax base and a pension reform.

--IANS
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