Greece gets relief from creditors after first austerity test

ATHENS, Greece -- Greece got a triple dose of good news Thursday, when creditors agreed to open talks on a third bailout package, give the country an interim loan to cover its debts and provide more support to its shuttered banks.

Greece's fellow states in the 19-country eurozone said they were willing to open talks on a new rescue package worth $93 billion over three years after Athens approved a series of tax hikes and economic reforms overnight.

The austerity bill triggered a revolt in the governing party and demonstrations in central Athens, one of which briefly turned violent, but was required by creditors as a precondition for starting bailout talks.

Because completing a new rescue deal is expected to take up to four weeks, Greece's European creditors also agreed on interim financing in the meantime.

European Commission head Jean-Claude Juncker confirmed an EU-wide bailout fund would give Greece a loan to cover it through mid-August.

Finally, the European Central Bank agreed to increase the amount of emergency credit available to Greek banks by $980 million over one week, a first step toward helping them reopen.

The banks have been closed since June 29 to stanch a bank run, with Greeks limited to cash withdrawals of $67 per day, and the ECB had not raised the credit it makes available since last month. The extra credit is needed to make up for the constant outflow of money from the banks.

It remained unclear how quickly Greece's banks could reopen or when they might ease the limits on cash withdrawals.

The government must pass a second bill through Parliament next week, which includes reforms to civil justice procedures.

The requirements are part of a deal reached between Prime Minister Alexis Tsipras and other eurozone leaders after a marathon summit in Brussels last weekend, under which Greece must implement harsh austerity measures, including tax hikes and pension cuts, in return for the start of talks on its third bailout.