Greece must enact reforms to receive next loan installment

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Greece must enact a series of new fiscal reforms in order to receive the second half of its latest bailout package of €49.1 billion. The installment was approved by the international lenders after the Greek parliament agreed on required austerity measures and revised the 2013 budget.

"We must be ready, we must vote the tax bill by [January 11], it is the most important issue," Greek Finance Minister Yannis Stournaras told reporters after meeting Prime Minister Antonis Samaras.

The crisis-torn country received the first half of its third bailout installment worth €34.3 billion in December 2012 and is poised to obtain another €9.2 billion at the end of January, if key reforms are carried out. Two more slices of €2.8 billion should follow in February and March. 

The European finance ministers are expected to decide on January 21 whether Greece receives the next disbursement. In addition, the International Monetary Fund is expected to rule by January 20 whether to release its next share of the bailout, worth an additional €3.4 billion.