Greece clears final hurdle to get funds

GREECE bought itself time to deal with its crippling debt crisis after lawmakers passed the second and final austerity bill essential for the release of crucial bailout funds and prevent the country from defaulting next month.

The European Union and International Monetary Fund had demanded Parliament pass two bills — an austerity law and a second bill detailing how it will be implemented — before they approve a €12 billion installment from the country’s €110 billion package of rescue loans.

Without the funds, Greece was to run out of money in mid-July.