Netherlands will back Greek bailout, no need for vote – PM

The country is due to contribute some 10.1 billion euros ($11.14 billion) of the 86 billion-euro package for Greece.

The Bundestag approved the bailout after a week of hard lobbying from Merkel and Finance Minister Wolfgang Schaeuble to stem a possible revolt within their caucus.

On Tuesday, the parliaments of Austria, Estonia and Spain voted to approve the bailout.

The vote culminated a bruising month for the German chancellor, who has struggled to convince the German public and her own party why taxpayers should continue to support a rescue effort that by most accounts has so far failed.

Deutschland MPs have overpoweringly approved a 3rd bailout agreement for Greece, despite rivals from conservative politicians.

But a sizeable number of conservative lawmakers rebelled against Chancellor Angela Merkel, objecting to pouring yet more billions into Greece. “But in view of the fact that the Greek parliament has already passed a large part of the measures it would be irresponsible to not use the opportunity for a new start in Greece”.

Support from parties including the Social Democrats (SPD), Merkel’s junior coalition partner, and the opposition Greens ensured German approval of the bailout. The mass-market Bild newspaper had predicted up to 120 deputies could jump ship at Wednesday’s vote. [ID:nL5N10T15O] He was echoed on Wednesday by Eurogroup Chairman Jeroen Dijsselbloem who said the compromise might be lower interest rates and longer repayment terms rather than a write-off. She also told members she has no doubt the International Monetary Fund will eventually join the aid programme, the official said.

German lawmakers overwhelmingly approved another bailout for debt-ridden Greece on Wednesday, August 19, removing the last major obstacle for Athens to receive an emergency infusion of funds to avoid an imminent default, a Los Angeles Times report says.

Tsipras was meeting with members of his financial team on Tuesday, but the government has said any announcements on political developments will be made after today, when Greece must repay a debt for which it needs new loans.

Greek Prime Minister Alexis Tsipras is mulling whether to call a vote of confidence in his government after a big rebellion among his radical left Syriza party over the bailout.

There’s also growing talk in Greece that Tsipras may opt for early elections as soon as next month now that the bailout deal is in place.

“If Greece stands by its obligations and implements the programme in full and with determination, then the Greek economy can grow again“. It spells out strict conditions, agreed last week by Athens and its creditors, which Greece must meet in return for new aid.

The government has taken several steps to try to halt the financial crisis – including closing the stock exchange for more than a month, shutting banks for three weeks and instituting limits on the amount of money Greeks could withdraw.