After days of heated debate, Greek lawmakers voted narrowly on Sunday to approve a fresh set of financial measures aimed at ensuring that eurozone finance ministers will decide this week to unlock billions of euros in badly needed rescue loans from the country’s third bailout, The New York Times reported yesterday. The legislation passed 153- 145, with all of the government coalition members in Parliament voting in favor. It includes a one percentage point increase in the highest rate of sales tax to 24 percent, higher taxes on coffee, alcohol, fuel and other goods and new rules liberalizing the market for nonperforming bank loans. There is also a measure creating a privatization fund to sell off state assets and utilities, including public transport companies, the post office and the state power corporation. The legislation also introduces a so-called contingency mechanism that would cut state spending if Greece misses budget targets set by its creditors for the next three years.
