A bank employee distributes tags with queue positions to pensioners as they wait outside the main gate of the national bank of Greece to withdraw a maximum of 120 euros ($134) in central Athens, Thursday, July 16, 2015.(AP Photo/Emilio Morenatti)
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Eurozone ministers approved the launch of Greece bailout talks and the ECB boosted its cash lifeline to the crisis-hit country Thursday after lawmakers in Athens grudgingly passed a tough reform package demanded by creditors.In an almost immediate reward to Athens, European Central Bank chief Mario Draghi in Frankfurt said that a vital cash lifeline to Greece's struggling banks would be boosted, while also throwing his weight behind IMF calls for debt relief to the country.The Emergency Liquidity Assistance or ELA -- which has kept Greek banks, and by extension the Greek economy, afloat -- has been fixed at around 89 billion euros ($99 billion) since late June, but would be topped up with an additional 900 million euros, Draghi said.Athens has failed to make a key debt repayment to the International Monetary Fund, and its next debt deadline is a 4.2-billion-euro payment to the ECB itself on July 20 .
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