Greece clears loan hurdle

Greece yesterday adopted the last piece of legislation lenders required to release the next batch of rescue loans, concluding two months of wrangling over unpopular measures to overhaul the economy.

Legislators convened during the summer break to approve a new tax code and put finishing touches to a controversial transfer scheme for civil servants.

The bill’s passage will unlock €5.8bn of bailout funds from the eurozone, its national central banks, and the IMF. Athens is expected to start receiving the funds from Monday.