Sixty-three German conservatives voted against 3rd Greek bailout
German lawmakers voted in favor of a third Greek bailout on Wednesday despite a record rebellion among Chancellor Angela Merkel’s own conservatives that suggested she would struggle to return to parliament to seek any further aid for Athens.
The German parliament voted by 454 to 113 in favour of the deal.
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.
Despite being one the harshest critics of Greece’s left-wing Syriza government, Germany’s finance minister told MPs before the vote that they should give Greece the opportunity of a new start.
With Merkel’s coalition partner, the Social Democrats, and the opposition Greens, backing the deal, the vote is set to pass easily. This will be the third bailout Greece has received since 2010.
In a 20-minute speech addressed ahead of the vote, Schaeuble asked lawmakers to support the bailout as it was “in the interests of Greece and Europe”.
As Greece expected to get the new loans, Tsipras wrote Wednesday to European Parliament President Martin Schulz to request that the parliament joins the team of global institutions that monitor the country’s reforms.
It has been agreed that €13bn will be released by August 20, as Greece is due to make a repayment of €3.2bn – rising to closer to €3.4bn once interest has been taken into account – to the European Central Bank (ECB).
The bailout is conditional on Greece imposing stringent spending cuts and tax hikes – measures Mr Tsipras won elections in January vowing to repeal.
“There is no guarantee that this all will work and doubts are allowed, given the experiences over the past months and years”, he said.
There is little a similar number of defections will be repeated in the official vote on Wednesday.
“If Greece stands by its obligations and the program is completely and resolutely implemented, then the Greek economy can grow again”, Schaeuble said.
Schaeuble, Germany΄s toughest negotiator on the Greek bailout, led calls for a ΄yes΄ vote in the parliamentary debate.
Hardliners within his party have accused him of capitulating to unreasonable demands that will plunge the Greek economy further into recession.
But Lagarde, who has been pressing euro zone countries to provide Athens with “significant” debt relief, has said the global Monetary Fund will wait until October to decide whether to participate. The Greek government’s approval was announced on Monday evening in the government’s official gazette, but a Fraport spokesman said that he doesn’t expect the deal to be signed until the end of the year, according to the Wall Street Journal.