The German parliament voted by 454 to 113 in favour of the deal.
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Schaeuble, Germany΄s toughest negotiator on the Greek bailout, led calls for a ΄yes΄ vote in the parliamentary debate.
Officials said the worldwide Monetary Fund needed more assurances and details on Greek reforms, notably to pensions, and steps to persuade it that Greece’s debt burden was sustainable.
Greece needs the money from global creditors by August 20, when it must repay about $3.5 billion in debt to the European Central Bank.
On Tuesday, the parliaments of Austria, Estonia and Spain voted to approve the bailout.
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.
“Of course, after the experience of the last years and months there is no guarantee that everything will work and it is permissible to have doubts”, Schaeuble said.
The German Parliament approved a bailout for Greece Wednesday, although lobbying by German Chancellor Angela Merkel failed to stop a revolt within conservative blocs.
“If we’re honest, this is a hidden debt haircut (writedown) at the expense of our children and grandchildren”, conservative lawmaker Dagmar Woehrl told Tuesday’s Rheinische Post newspaper, signalling her decision to vote “no”.
“But considering the fact that the Greek parliament already approved most of the (stipulated reform) measures, it would be irresponsible not to seize this chance for a new beginning in Greece“, he said to applause from the chamber as Merkel looked on.
Although a majority in parliament supported the bailout, it is unpopular with Dutch taxpayers, especially Rutte’s own conservative base, just as in Germany.
Accepting the conditions was a major reversal of policy for Prime Minister Alexis Tsipras and the coalition government between his radical left Syriza party and the small nationalist Independent Greeks. Merkels coalition partner, the Social Democrats, and the opposition Greens also backed the deal.
‘If Greece stands by its obligations and the program is completely and resolutely implemented, then the Greek economy can grow again, ‘ Schaeuble said.
But the vote threatens to be overshadowed by an expected rebellion in Chancellor Angela Merkel’s centre-right alliance.
Both the Netherlands and Germany have taken hardline stances in the the bailout negotiations with Athens, which came after six months of acrimonious talks that almost resulted in Greece crashing out of the eurozone.
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But Deputy Culture Minister Nikos Xydakis said on Wednesday that Tsipras had yet to make up his mind, possibly considering a delay until the first review of progress under the new bailout, which Greece’s creditors will conduct in October.
