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The European Central Bank deferred giving Greece access to its cheap money on Thursday, hours before Athens rushed through parliament a batch of bailout reforms which could have qualified the country for the lifeline cut off a year ago.

European Central Bank lowered the borrowing ceiling for Greek banks through the Emergency Lending Assistance mechanism (ELA) by 300 million euros to 71.5 billion.

The representatives of the institutions will visit Athens in the next few days in order to begin the first evaluation of the Greek program, as Commissioner for Economic Affairs Pierre Moscovici announced.