Greek PM calls on European Parliament to join quartet of creditors

The vote’s result also seemed to dispel any speculation that Chancellor Angela Merkel would have difficulty getting her conservative bloc to sign on.

The Bundestag lower house of parliament, whose backing is essential for the release of bailout funds, approved the plan by 454 votes to 113, with 18 abstentions.

The attack is in tune with a growing revolt in Merkel’s party bloc and a minority of Germans who polls suggest are opposed to helping Greece and keeping it in the euro area, where Germany is the biggest contributor to sovereign bailouts.

A significant minority of Merkel’s conservatives voting against the package would send the government a warning that this is its last chance to keep debt-ridden Greece in the 19-country euro zone.

A German transport company appears to be moving ahead with buying the rights to operate 14 regional airports in Greece, as the Greek government submits to privatization deals as part of a new bailout deal to its European creditors.

Support from parties including the Social Democrats (SPD), Merkel’s junior coalition partner, and the opposition Greens ensured German approval of the bailout. Last month, he tabled the option of a ΄timeout΄ from the euro zone for Greece, before then throwing his weight behind the new bailout plan.

Lawmakers in Spain and Estonia approved it Tuesday, while those in the Netherlands are expected to do so Wednesday as well.

A majority of German MPs are expected to vote in favour of the controversial third Greek bailout later on Wednesday.

“The Board of Governors of the European Stability Mechanism approved today the ESM managing director’s proposal for a financial assistance agreement with Greece”, the board said in a statement.

Rutte’s coalition government easily survived a no-confidence vote at the end of Wednesday’s debate.

“Our goal is to make Greece get back on its feet as soon as possible”, he said.

“The decision (on a further bailout programme for Greece) is not easy”, he said, but the aid was “in the interests of Greece and Europe”.

A further €10bn are to be set aside to deal with ailing Greek banks, while the remaining €3bn will be disbursed to Athens in return for reform progress over the coming months, the Eurogroup of eurozone finance ministers said on Friday.

ATHENS-Greek Prime Minister Alexis Tsipras on Wednesday called for the European Parliament’s involvement in overseeing his country’s bailout program, a proposal European officials say is unlikely to win creditor approval but which shows Greece’s continuing quest for gentler bailout terms.

Some analysts took the reports of early elections as an indication that Greece will struggle to implement its bailout.

Schaeuble is also optimistic that global Monetary Fund’s (IMF) its imprimatur will enable many lawmakers to guarantee the implementation of stringent measures in reforms and budgetary targets.