Greece’s lawmakers approved Friday the first bill containing tough austerity measures and economic overhauls agreed under its new bailout program, The Wall Street Journal reported. After a week-long debate, the bill, which includes stricter pension rules, tax hikes and tougher fines for tax evasion, was passed by the majority of Greece’s 300 lawmakers.

Although dealing with delinquent loans is one of the biggest challenges facing the government of Prime Minister Alexis Tsipras and the country’s creditors, the issue is so knotty that it was not included in the bundle of economic reforms the Greek Parliament was debating this week. Instead, it will be taken up later, the International New York Times DealBook blog reported. Officially, more than 40 percent of loans issued by Greek banks are seriously in arrears. By some estimates, the rate tops 50 percent, if loans that have gone sour in recent months are included.

Greece’s leftwing Syriza-led government has presented more tax and pension reforms to parliament amid growing concerns that the package of measures will prolong the country’s six-year recession, the Financial Times reported. The proposals are being discussed under emergency procedures so that Greece can meet a weekend deadline set by creditors for implementing a tough front-loaded package of fiscal and structural measures in return for an €86bn bailout.

Greece’s parliament Monday began debating the first bill containing tough austerity measures and economic overhauls agreed under its new bailout program, The Wall Street Journal reported. The bill, which is expected to go to a vote on Friday, includes stricter pension rules, tax hikes and tougher fines for tax evasion.

After a tumultuous year for Greeks, their politicians and their banks, a new Syriza-led government must by next week legislate measures to recapitalise all four lenders with about €15bn of money from the country’s €86bn third bailout, the Financial Times reported. There is no room this time for the slippage that marked the previous Syriza administration’s attempts at structural reform.

Greek Prime Minister Alexis Tsipras told lawmakers early on Thursday that Athens must conclude the first review of its new international bailout within November, to start talks over a debt relief before the end of the year, Reuters reported. "Our main target is to conclude the review within November and the bank recapitalisation by the end of the year, in order to, at last, start the discussion over a debt relief," Tsipras said ahead of a confidence vote.

Alexis Tsipras has pledged to steer Greece back to economic growth in the second half of next year but said he would try to negotiate softer terms with the country’s creditors on energy liberalisation and social policies, the Financial Times reported. The Greek premier won an unexpectedly solid victory in a snap election held last month.

Alexis Tsipras moved swiftly to form a new Greek government on Monday after his convincing victory in the national election a day earlier, with some officials close to him suggesting that he would create a new ministry solely dedicated to carrying out the tough bailout package he reluctantly agreed to last summer, the International New York Times reported. While Sunday’s election consolidated his power and rid his leftist Syriza party of its most rebellious faction, Mr.

Greek leftist Alexis Tsipras stormed back into office with an unexpectedly decisive election victory on Sunday, claiming a clear mandate to steer Greece's battered economy to recovery, Reuters reported. The vote ensured Europe's most outspoken leftist leader would remain Greece's dominant political figure, despite having been abandoned by party radicals last month after he caved in to demands for austerity to win a bailout from the euro zone.

With new elections scheduled for Sunday and Greece’s relations with its European partners in a fragile state, this debt-ridden country has much on the line, the International New York Times reported. The next prime minister will have to navigate the tricky politics of the European Union at a time when some European leaders have made clear that their patience for keeping Greece in the eurozone is running out.