Greek bailout: MPs recalled to vote

BERLIN: German MPs will be recalled from holiday on Wednesday to vote on the proposed bailout for the Greek economy. Eurozone finance ministers, on Friday, approved a package worth €86 billion ($96 billion) in exchange for far-reaching pro-market reforms. Germany, as Europe’s biggest economy and contributor to Greek aid, has a key role in approving the package. Analysts say approval on Wednesday is almost certain, given that the governing coalition of Conservatives and Social Democrats has 504 out of 631 seats in the assembly. On July 17, the Bundestag was recalled from its summer break for a first vote on giving the green light to start negotiations on the bailout. It was opposed by 60 out of the 311 legislators in the Merkel’s Christian Democrat / Christian Social Union bloc. The Dutch and Austrian parliaments are also required to vote on the deal approved by the Greek parliament early Friday after an exhaustive debate. Merkel will address MPs before the vote before leaving on an official visit to Brazil.

Published in The Express Tribune, August 16^th, 2015.

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