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Greece has initiated the process for the payment of a total 6.25 billion euros ($6.78 billion) to the European Central Bank (ECB) and the worldwide Monetary Fund (IMF), finance ministry officials told Reuters on Monday. “Greece is therefore no longer in arrears to the...

It also comes after Greece repaid about 2 billion euros to the global Monetary Fund, clearing all its arrears after missing several payments in June and July.

German Chancellor Angela Merkel ruled out “a classic haircut” – a markdown of Greece’s debts.

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.

The first big development Friday was the news that German lawmakers, in the wake of their Austrian counterparts, voted 439-119 in favor of opening detailed discussions on the bailout package.

The Greek bill was the first step in meeting requirements for negotiations to start on a desperately needed third global bailout for Greece – a three-year 85 billion euros ($93 billion) package – that will prevent it from crashing out of Europe’s common currency.

The new ministers are expected to be sworn in on Saturday.

Dimitris Vitsas was appointed new alternate defence minister, replacing Costas Isichos, another SYRIZA lawmaker who voted against the agreement. But nearly a fifth of Merkel’s conservatives voted “no” in a blow to the chancellor.

World economy | The Greek parliament has passed new austerity measures amid violent protests on the streets of Athens.

A final count showed 229 members of parliament out of 300 voted in favour of the measures, which included sweeping changes to Greece’s taxes, pensions and labour rules.

“All that was missing was Merkel making refugee children cry”, Belarusian-born writer Evgeny Morozov tweeted.

The dissenters’ decision, Tsipras said, forced him to continue governing with a minority government until Greece’s bailout deal is concluded – something expected to take a month or more. “But I believe we will be able to resolve them”.

We are certain to encounter problems in the years to come.

Athens shuttered banks and imposed capital controls at the end of last month, bringing the economy to a virtual standstill and forcing Greeks to queue for hours for cash.