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.
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Once all national procedures were completed, 13 billion euros among the first tranche of 26 billion euros would be disbursed to Greece for its pressing bills including a repayment of 3.2 billion euros to the European Central Bank on Thursday.
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.
Merkel and Finance Minister Wolfgang Schaeuble, despite earlier misgivings, had urged their fellow Christian Democrats (CDU) and Christian Social Union (CSU) members of parliament to vote “yes” on the measure.
Schaeuble told lawmakers that approval of the three-year loan package is ‘in the interest of Greece and the interest of Europe.’ He noted that the Greek government has taken big steps over the past few weeks to restore trust with its creditors.
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.
Though the rescue package still comfortably cleared the Bundestag and the rebellion was smaller than some in Ms Merkel’s party had feared it raises the possibility of stronger resistance down the line for any further financial assistance for Greece. Greece has spent much of the past six years in recession. He also told them he was sure that the worldwide Monetary Fund, whose imprimatur many lawmakers see as guaranteeing rigorous implementation of budgetary and reform targets, would take part.
But a revolt against leftwing PM Alexis Tsipras for agreeing to tax hikes and spending cuts demanded by global lenders, despite being elected in January on an anti-austerity ticket, could plunge the country into the uncertainty of fresh elections.
“If Greece honors its commitments and fully implements the program in a decisive way, then the Greek economy can grow again in the coming years”, he said.
“The problem isn΄t a lack of European solidarity but a lack of Greek efficiency”, said conservative rebel Wolfgang Bosbach.
By match, Tsipras versed the main rising but still among anti-bailout congress from his leftist Syriza party, shooting him to look at a confidence vote that may contribute to earlier elections if he ignores.
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Klaus-Peter Willsch, a key dissident, said: “We were promised the same thing so often but it was always broken”. Athens is expected to get the first installment of the money afterward.
