Bailout fund approves loan installment to Greece

Bailout fund approves loan installment to Greece

A eurozone bailout fund has approved a new loan to Greece worth 2 billion euros ($2.1 billion billion) after the country agreed to take new austerity measures.

The European Stability Mechanism said Monday that it had agreed to release the next installment of the country's bailout program, following a 13 billion euro ($13.8 billion) payout in late August.

Parliament last week approved the new austerity measures, which include higher taxes on wine and road use as well as more limited protection for distressed mortgage holders.

Opposition to the measures saw the majority in parliament held by country's leftwing government cut from five seats to three.


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