German lawmakers overwhelmingly backed on Friday July 17,2015 a new bailout plan for
Greece after Chancellor Angela Merkel argued that the cash-strapped
country would face chaos without a deal.
Following more than three hours of debate, German lawmakers of Bundestag, the lower house voted 439-119 in favor of opening detailed discussions on the package. There were 40 abstentions
The Bundesrat, the upper house, has also approved the multi-billion dollar rescue package.
Germany is one of the few eurozone countries whose parliaments had to approve the step. Earlier Friday, Austrian lawmakers also cleared the way for the talks.
Germany has been the largest single contributor to Greece's bailouts and has taken a hard line, insisting on stringent spending cuts, tax hikes and wide-ranging economic reforms in return.
Following more than three hours of debate, German lawmakers of Bundestag, the lower house voted 439-119 in favor of opening detailed discussions on the package. There were 40 abstentions
The Bundesrat, the upper house, has also approved the multi-billion dollar rescue package.
Germany is one of the few eurozone countries whose parliaments had to approve the step. Earlier Friday, Austrian lawmakers also cleared the way for the talks.
Germany has been the largest single contributor to Greece's bailouts and has taken a hard line, insisting on stringent spending cuts, tax hikes and wide-ranging economic reforms in return.
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