The eurozone is on the verge of releasing urgent bailout funds for Greece on Saturday after the parliament adopted tough austerity action, buying the euro time in a debt crisis that is far from over.
Moving faster to save Greece from imminent default, eurozone governments agreed in principle on Friday to unlock the funds and changed a special meeting in Brussels from Sunday to a teleconference on Saturday, diplomats said. The weekend talks are now set to release the fifth 12-billion-euro slice of last year's 110-billion-euro ($159.6-billion) bailout for Greece by the European Union and the International Monetary Fund, diplomats said.
Greece urgently needs the cash this month to stave off bankruptcy.
For more: AFP: Europe to deliver urgent bailout funds to Greece
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