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German lawmakers on Wednesday approved a third bailout package for Greece, despite substantial opposition within its parliament.

As Prime Minister Alexis Tsipras announced his resignation late last week, he scheduled elections for September 20.

The bill on the rescue deal passed just in time for Greek Finance Minister Euclid Tsakalotos to head to Brussels to meet his counterparts from the 19-country currency union in the hope of getting their seal of approval as well.

The bailout was in “the interests of Greece and Europe”, Schaeuble told the Bundestag.

His U-turn in accepting the demands by the country’s creditors led to outrage among hardliners in his Syriza party, with dozens voting against him during the bailout’s ratification in parliament last week.

The approval comes after six hours of talks to nail down the tough and far-reaching reforms Athens must implement in return. Unable to borrow on the worldwide markets, another bailout is all that stands between Greece and a disorderly default on its debts – as soon as next...

Eurogroup chairman Jeroen Djisselbloem said that there were “differences” among foreign ministers of Eurozone, but they “managed to solve the last issues”.

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 final vote was 454-113, with 18 politicians choosing to abstain, following concern that Chancellor Angela Merkel could face dissent from conservatives in her ruling bloc.

Some national parliaments, including Germany, still must approve the deal.

While it is likely that the Bundestag will pass the measures in line with the eurozone and the German cabinet, several lawmakers from Chancellor Angela Merkel’s Christian Democratic Union (CDU) are expected to break ranks and vote against Greece’s third bailout.

The fifth parliamentary elections in six years look like a near certainty to take place next month, with reports of September 20 being the preferred date. It would be the third time this year that Greeks vote, after January elections and a July 5 referendum on reforms proposed by...

A yes vote from the German parliament is not in doubt, although there have been nagging questions for chancellor Angela Merkel about divisions within her own conservative ranks.

When the Parliament last voted in July on opening new bailout negotiations with the leftist-led government of Prime Minister Alexis Tsipras, 60 of Merkel’s MPs went against her. In a test vote on Tuesday ahead of the debate, 56 members of her bloc voted against the package...

The new three-year bailout package – Greece’s third bailout in little more than five years – is worth a total of 86 billion euros ($96 billion), and the gradual disbursement of funds depends on the Greek government implementing a series of reforms, including...