Greece passes first hurdle of bailout programme

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Greece has passed the first step of its austerity programme and should qualify for a second installment of emergency loans, the first European-IMF review mission to Greece said Thursday.

A team of European and IMF delegates said Greek authorities made a "strong start" to the economic programme following a two-week assessment of the Greek economy. The delegation said Greece had met all its end-June quantitative performance criteria and that the reforms, aimed at reducing its fiscal debt and retur

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