(VOVworld) – The Greek parliament has approved an 85-billion euro bailout deal after a marathon all-night session. The vote was passed with 222 votes in favor, 64 against, 11 abstentions and three absent in the 300-member parliament.

The urgent meeting of the Greek parliament on the third bailout package on August 13 (Photo: AFP)

The newly-passed deal imposes harsh measures on spending cuts and tax increases in exchange for new bailout package from creditors including the EU, the European Central Bank and the International Monetary Fund. Once the bill is passed, the euro zone ministers still have to approve the deal for aid to be disbursed before Athens must make a 3.2 billion euro debt payment to the European Central Bank on August 20.