Relief for Merkel as German parliament approves €86bn Greek bailout

Germany’s parliament overwhelmingly approved a third bailout for Greece on Wednesday, removing a key hurdle to providing new loans to the country and keeping it from defaulting on its debts in as little as 24 hours. The vote’s result also seemed to dispel any speculation that Chancellor Angela Merkel would have difficulty getting her conservative bloc to sign on. Lawmakers voted 454-113 in favour, with 18 abstentions. The approval is among the last due from parliaments across Europe, with the Dutch scheduled to vote later Wednesday, after which Greece is expected to get the first installment of its new €86 billion ($95 billion) loans package.The country needs the money within 24 hours to make a debt repayment on Thursday.

It would be irresponsible to not use the chance for a new beginning in Greece.

German Finance Minister Wolfgang Schaeuble

The Bundestag’s blessing was required for German participation in the latest Greek bailout plan. But grumbling has grown ever louder within Merkel’s Christian Union bloc over help extended to the Greek government of leftist Prime Minister Alexis Tsipras. In a rare editorial by Bild’s editor-in-chief, Kai Diekmann had urged deputies to vote against the package. "Today’s vote will not save Greece, it will not save the euro and it will not save Europe,“ he wrote. The Christian Democrats’ general secretary, Peter Tauber, warned this week that a vote against the bailout was "tantamount to stabbing the chancellor in the back” two years before the party fervently hopes to see her stand for a fourth term.

Worst still, the old ghosts of pre-EU Europe have resurfaced - the worst outcome of the EU’s Greek policy.

An editorial from Bild’s editor-in-chief, Kai Diekmann

Politics German parliament