Arab Today, arab today germany unblocks greek bailout in parliament vote
Last Updated : GMT 21:36:03
Arab Today, arab today
Arab Today, arab today

Germany unblocks Greek bailout in parliament vote

Arab Today, arab today

Arab Today, arab today Germany unblocks Greek bailout in parliament vote

Greece's Finance Minister Yanis Varoufakis
Berlin - AFP

German lawmakers approved a hard-won bailout extension for Greece Friday in a move Germany's finance chief called "not easy" but necessary, lifting the last hurdle to keeping a crucial lifeline open to Athens.
With worsening Greek economic data With worsening Greek economic data heightening the pressure, Finance Minister Wolfgang Schaeuble vigorously urged German MPs to support giving Greece a four-month breathing space despite widespread misgivings.
"I'd like to ask parliament, each lawmaker, not to reject the request by the ministry of finance, which wasn't easy for me either, because this would do great harm to our people and our future," Schaeuble told parliament.
The 72-year-old deeply pro-European minister, who has traded barbs with Athens in recent weeks, said the peoples of Europe were a "community" based on solidarity where those currently better off help those in difficulty.
"We, and especially Germany, will have a good future in the 21st century only if European integration remains successful and if we stand united in Europe," he said.
The plain-talking veteran minister had starkly warned earlier this week that Greece would not receive "a single euro" until it meets the pledges of its existing 240-billion-euro ($270-billion) bailout programme.
And he sought to reassure lawmakers it was not a question of stumping up "new billions" for Greece, or changing the bailout but rather about "granting more time to successfully conclude" the plan adopted for Athens in 2012.
As expected, the extension won overwhelming support in the lower house Bundestag where Chancellor Angela Merkel's left-right coalition has a commanding majority.
Some 541 MPs voted in favour, according to a slightly modified count released by parliament later, while 32 lawmakers voted against and 13 abstained.
- 'No more billions' -
Eurozone finance ministers had approved the four-month bailout extension for Greece to avert a potentially calamitous end-February deadline that could have seen Athens default and exit from the euro.
To secure the extra time, Greek Prime Minister Alexis Tsipras's new hard-left government agreed with creditors to refrain from one-sided reform rollbacks and published a list of proposed reforms focused on tackling tax evasion and corruption and improving government efficiency.
Greece's maverick Finance Minister Yanis Varoufakis on Friday told Antenna TV that the deal sealed after gruelling negotiations with creditors was worded in a "deliberately" vague way to ensure its approval by European parliaments.
The new Greek government faces having to walk a fine line between the demands of international creditors and following through on the anti-austerity promises that swept it to power last month.
The first anti-government protest since Tuesday's EU agreement was marred by violence in Athens Thursday.
Greece's economy shrank by 0.4 percent in the fourth quarter of 2014, more than previously thought, official data showed Friday, the first quarter-on-quarter contraction since the country exited a six-year recession last year.
With a more than 1.5-billion-euro ($1.7-billion) repayment to the International Monetary Fund looming in March, Varoufakis acknowledged Friday that "at this moment the coffers are empty".
But he has told Bloomberg News this week that he was counting on the European Central Bank coming to the rescue by handing over 1.9 billion euros in Greek bond profits.
Greece's debt of 320 billion euros, equivalent to 175 percent of its annual economic output, is now mostly owed to its European partners.
Berlin's unwaveringly hardline on the need for Greece to stick to economic reforms in return for aid is shared in other capitals, from Helsinki to Madrid and Lisbon, another bailout recipient.
Merkel, who has said the extension is just a "starting point" and that Berlin is under "no illusions" about the challenges ahead, faces political pressure from bailout-weary voters at home.
Seventy-one percent of Germans doubt that Athens will implement the savings and reforms it has announced, a poll for ZDF public broadcaster indicated Friday.
In parliament, among the 32 "no" votes, 29 came from the ranks of Merkel's own conservative bloc, with scepticism summed up by Christian Democrat MP Klaus-Peter Willsch, who asked "would you buy a used car" from Tsipras?
Top-selling tabloid-style newspaper Bild again Friday fanned public sentiment amid German taxpayers' widespread fears they will never see the money again.
"Bild readers say Nein (no)!" read the front-page headline, showing photos of readers holding up signs that read "Nein -- no more billions for the greedy Greeks", which were published in the previous day's edition.

 

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today germany unblocks greek bailout in parliament vote Arab Today, arab today germany unblocks greek bailout in parliament vote

 



Arab Today, arab today
Arab Today, arab today Mohamed Bahari prepares new collection for spring 2017

GMT 06:15 2017 Monday ,27 February

Mohamed Bahari prepares new collection for spring 2017
Arab Today, arab today 17.4 million tourists visit UAE in 2016

GMT 00:47 2017 Monday ,27 February

17.4 million tourists visit UAE in 2016
Arab Today, arab today Sheds light on major steps in 12-year career

GMT 06:07 2017 Monday ,27 February

Sheds light on major steps in 12-year career
Arab Today, arab today UN envoy sets out framework

GMT 07:25 2017 Monday ,27 February

UN envoy sets out framework
Arab Today, arab today Ayat Abaza says state TV presented major stars

GMT 03:52 2017 Sunday ,26 February

Ayat Abaza says state TV presented major stars
View News in Arabic - Business: قضايا ساخنة
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Penguins in the age of dinos

GMT 11:44 2017 Saturday ,25 February

Penguins in the age of dinos
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today 'Constructive' Vauxhall talk with union

GMT 08:54 2017 Saturday ,25 February

'Constructive' Vauxhall talk with union
Arab Today, arab today Tesla back into red but revenue grows

GMT 07:27 2017 Thursday ,23 February

Tesla back into red but revenue grows
Arab Today, arab today Reasons for the delay 'On the Stairs of Servants'

GMT 06:42 2017 Saturday ,25 February

Reasons for the delay 'On the Stairs of Servants'
Arab Today, arab today Ex-yoga missionary unleashes rage

GMT 12:16 2017 Thursday ,23 February

Ex-yoga missionary unleashes rage

GMT 07:23 2017 Friday ,24 February

Ola Ghanem hopes to work with M.Ramadan

GMT 05:14 2017 Thursday ,23 February

UK appoints 1st Scotland Yard chief in 188 years

GMT 18:23 2017 Friday ,24 February

Fadi explains secrets of  Nancy Ajram's newlook

GMT 10:28 2017 Wednesday ,22 February

Milan laughs while Rome cries

GMT 19:45 2017 Monday ,20 February

Sarah Belamesh designs antiques of "ceramic"

GMT 10:51 2017 Saturday ,25 February

Pigs with edited genes show resistance

GMT 14:04 2017 Friday ,24 February

Messi visit will contribute in tourism

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 22:42 2017 Thursday ,23 February

Nasima Gamei revives heritage in jewelries
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday