Greece’s Bailout Bill Submitted to Parliament

Greece’s government submitted the draft bill for a new bailout to parliament overnight, in the hope of tapping the new rescue loans in time to avoid defaulting on its debts next week

Newly appointed Greek Finance Minister Euclid Tsakalotos arrives for a handover ceremony at the Finance Ministry in Athens on July 6, 2015. Angelos Tzortzinis/AFP/Getty Images

ATHENS, Greece—Greece’s government submitted the draft bill for a new bailout to parliament overnight, in the hope of tapping the new rescue loans in time to avoid defaulting on its debts next week.

Prime Minister Alexis Tsipras called an emergency session of parliament to discuss and vote on the bill, which includes painful tax hikes and spending cuts, by the end of Thursday.

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