Greek Lawmakers Approve Bad Loans Bill in Breather for Tsipras
- Bill approval paves way for disbursement of bailout tranche
- Law allows transfer of bad loans to distressed debt funds
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Greece’s parliament passed legislation allowing lenders of Europe’s most indebted state to sell non-performing loans and pave the way for the release of bailout funds.
All 153 lawmakers in Prime Minister Alexis Tsipras’s governing coalition voted in favor of the legislation, which enables distressed-debt firms based in the European Economic Area to manage or buy corporate loans from local banks.