Greek police stand guard the streets amid molotov cocktails thrown by protesters during in an demonstration against reform package in Athens on May 8, 2016. AFP / LOUISA GOULIAMAKI
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Greek lawmakers Monday passed unpopular pension and tax reforms that a European official said marked a major advance in negotiations toward unlocking more rescue funds from the country's creditors. Eurozone finance ministers will hold talks on Greece's progress on economic and fiscal reforms later in the day, and assess if it has met terms of its multi billion euro bailout.A positive sign-off on the review will unlock more than 5 billion euros ($5.7 billion) to ease Greece's squeezed finances and cover debt repayments maturing in June and July. Greece also hopes the sign-off will launch discussions on debt relief, and eurozone officials in Brussels said the finance ministers would discuss how to reprofile its debt to make future servicing costs manageable.Greece had done what was expected of it and deserved debt relief, he said.
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