ATHENS-Greece adopted on Thursday the last piece of legislation its international lenders required to release the next batch of rescue loans, ending two months of wrangling over unpopular measures to overhaul the economy.
Lawmakers convened during the parliamentary summer recess to approve a new tax code and put finishing touches to a controversial transfer scheme for civil servants. The bill's passage will unlock 5.8 billion euros ($7.7 billion) of bailout funds from the euro area, its national central banks and the International Monetary Fund.
Cash-strapped Athens is expected to start receiving the funds from Monday. They include 2.5 billion euros from the euro zone's EFSF rescue fund, 1.5 billion euros of bond profit returns from euro zone central banks and another 1.8 billion euros from the IMF.
Subject to implementation of further reforms, Athens stands to receive another 1 billion euros in October.