German parliament to vote Wednesday on bailout for Greece germany
The German parliament will vote Wednesday on a new bailout package for Greece, a parliamentary spokesman said Saturday, according to dalje.com.
Eurozone finance ministers on Friday approved the third bailout package in five years for Greece, which will commit to reforms and spending cuts in return for 86 billion euros (96 billion dollars) in aid.
Some of the countries in the eurozone, including Germany, require their parliaments to be consulted on the new bailout. Others are Austria, Estonia, Portugal and Spain. Greece's Parliament approved it Friday.
Greece has been embroiled in bailout talks ever since the leftist government of Prime Minister Alexis Tsipras came to power in January on an anti-austerity platform. The negotiations have taken their toll on the economy and strained relations in the 19-member currency bloc.
Greece will receive an initial 13-billion-euro (14.4-billion dollars) aid payment "very early" on Thursday, said Klaus Regling, the head of the eurozone's bailout fund. That day, Greece must repay 3.2 billion euros, plus interest on its debt, to the European Central Bank.