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  1. German Parliament approves third bailout package for Greece

German Parliament approves third bailout package for Greece

Germany's Parliament has overwhelmingly approved a third bailout package for Greece despite misgivings by some conservative lawmakers of Chancellor Angela Merkel's Christian Democratic party.

By: | Berlin | Updated: August 19, 2015 4:10 PM
Greece bailout germany

Germany’s Parliament has overwhelmingly approved a third bailout package for Greece despite misgivings by some conservative lawmakers of Chancellor Angela Merkel’s Christian Democratic party. (Reuters)

Germany’s Parliament has overwhelmingly approved a third bailout package for Greece despite misgivings by some conservative lawmakers of Chancellor Angela Merkel’s Christian Democratic party.

Lawmakers voted 454-113 in favor of the deal on Wednesday, with 18 abstentions.

A breakdown of the vote by party wasn’t immediately available but the result seemed to dispel widespread speculation that Merkel would face a rise in dissenters within her conservative bloc.

Finance Minister Wolfgang Schaeuble urged lawmakers ahead of the vote to back Greece’s third bailout in five years in light of a marked change in the Greek government’s approach.

Germany is the largest single contributor to the bailouts. The vote for the bailout package was also supported by Merkel’s coalition partner, the Social Democrats, and the opposition Greens.

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