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The European Stability Mechanism will release the first tranche of funds to enable Athens to meet a €3.2bn bond repayment due to the European Central Bank on Thursday.

Finance ministers of the 19-nation euro single currency group have approved the first 26 billion euros ($29 billion) of a vast new bailout package to help rebuild Greece’s shattered economy.

The bill on the rescue deal passed just in time for Greek Finance Minister Euclid Tsakalotos to head to Brussels to meet his counterparts from the 19-country currency union in the hope of getting their seal of approval as well.

Prime Minister Alexis Tsipras has said he expects the bill to pass.

Greece has more or less concluded its bailout discussions with global creditors, officials have said, raising hopes the country could be ready to finalise a deal within the day.

Greek crises has many unanswered questions and silent reservations, where the bailout plan of €86 billion could still be scraped and further developments may experience criminal proceedings, regarding the former finance minister.

But a European source said it was not yet confirmed that the talks would begin Friday, adding that at most “only a few people” from the so-called troika of creditors would arrive before the weekend.

Greek prime minister Alexis Tsipras got the reforms through with the help of pro-European opposition parties.

ATHENS, Greece (AP) — Prime Minister Alexis Tsipras is widely expected to reshuffle his Cabinet, following a rebellion within his party over a parliament vote to approve painful austerity measures demanded for new bailout talks to start. A large number of Syriza lawmakers are...

The package of measures, which had to be approved to open talks on a new multibillion euro bailout, was passed with 229 votes and 64 against in the 300-seat chamber.

The Greek parliament has approved tough new austerity measures as part of a new bailout deal.