Greek Lawmakers Approve Additional Austerity Measures

Greek Parliament approved a multi-bill, which include new austerity measures ahead of the meeting of the eurozone finance ministers, known as the Eurogroup, local media reported.

ATHENS (Sputnik) — On Thursday, the Eurogroup is expected to hold a meeting to discuss the Greek bailout program and Athens' austerity steps and to consider the allocation of new loans to the Mediterranean state.

Greek lawmakers adopted a package of austerity measures, worth €1.8 billion (some $2 billion at the current exchange rates), the Ekathimerini newspaper reported on Sunday

The newspaper added that the measures also included the creation of framework for a new privatization fund.

Athens signed a deal with its creditors, which include the International Monetary Fund (IMF), the European Central Bank (ECB) and eurozone nations, in the summer of 2015 for a third bailout package worth about €86 billion in exchange for highly unpopular austerity reforms such as pension cuts and tax hikes.

Under two previous bailout programs, the last of which expired on June 30, 2015, Greece received about $270 billion from the IMF, the ECB and eurozone countries. The aid also came in exchange for austerity measures.