Third austerity package

291 lawmakers in Greece sanctioned an omnibus bill of 13 prior actions with 153 voting in favor, 138 voted against.

The new bill gives the right to sell bad business loans from local banks to overseas distress funds as part of a new austerity bill demanded by bailout lenders from the rest of the eurozone.

An internal memo circulating around the International Monetary Fund (IMF), according to an article in German magazine Der Spiegel, gives an analysis of Greek reforms and states displeasure concerning delays.

German newspaper Deutsche Welle states that the document in Der Spiegel’s possession refers to danger that the bailout instalment benchmarked for Greece may be “blocked”.

Greece has paid in full its arrears to the International Monetary Fund (IMF) equivalent to some EUR 2 B, the global lender said on Monday.

"Greece is therefore no longer in arrears to the IMF," Gerry Rice, Director of Communications at the IMF, said in a statement.

Greek civil servants are expected to stage a 24-hour strike on Wednesday to protest the bailout agreement, which was reached between the government in Athens and the eurozone leaders on Monday.

Greece agreed to implement strict reforms in return for a third bailout from its international creditors.

By Erik Kirschbaum

Time is running out for Greece to reach an agreement on reforms with lenders and there will be no further funds for Athens without it, the head of the European Stability Mechanism Klaus Regling told Germany's Bild newspaper on Tuesday.

The Greek government characterizes the deal between Greece and the EU as historic, stating that it marks the end of austerity and memoranda in Europe.

Even though the government recognizes that there is still a long way to go, it considers that it has avoided immediate funding failure, buying some time by the end of April.

The International Monetary Fund said Dec. 29 it was suspending financial aid to Greece under its huge rescue program until a new government is formed after elections slated for late January.

A 24-hour general strike has paralysed Greece in protest against further austerity measures demanded by the country's international lenders.

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