Greece’s parliament has given a nod to a prior actions bill on second batch of reforms. The vote clears the way for Greece to begin formal talks with its lenders on a three-year package of loans that could be worth €86bn.

Wednesday's vote was a key test for Greek Prime Minister Alexis Tsipras, following last week's parliamentary dissent during a set of austerity reforms demanded by the Troika, according to FX Street website.

Before the vote, Tsipras urged MPs to support the bailout, which will save Greece from bankruptcy and preserve its place in the Eurozone.

“We made difficult choices and now we must all adapt to the new situation,” he told MPs, repeating that he doesn’t agree with many of the reforms – but will do his best to implement them.