Friday October 31, 2014 Search
Weather | Athens
18o C
13o C
News
Business
Comment
Life
Sports
Community
Survival Guide
Greek Edition
German MPs to vote on Greek bailout

German Parliament is expected to approve on Monday the country’s participation in a new bailout for Greece, a day before Greek MPs vote on wide-ranging budget cuts, including reductions to pensions.

Chancellor Angela Merkel is to open Monday’s debate in Germany with a speech about the Greek rescue deal and the European Union leaders’ summit this Thursday and Friday.

Her conservative party’s chief parliamentary whip, Peter Altmaier, told ARD television he believes an “overwhelmingly large majority” of its lawmakers will back the bailout. With two opposition parties also expected to vote in favor, he said he expects a “wide majority” overall.

Though legislators look headed to back the deal, there’s a sense of unease in Germany over the costs involved in preventing a Greek debt default.

The mass-circulation Bild daily, which has always taken a very hard line on Greece, plastered the word “STOP!” over its front page on Monday. Its message to lawmakers was: “Don’t keep on going the wrong way.”

Altmaier said the government did not take the decision lightly and sought to dampen down on talk of another bailout in the future.

“It would be completely wrong if, at this point in time, we speculated about a further aid package that might be needed in a few years,” he added.

It isn’t yet clear exactly what Germany’s share will be of the new Greek bailout, which is accompanied by a massive bond swap on the part of Greece’s private creditors that is designed to knock €107 billion off the country’s debt mountain.

Underlining some lawmakers’ unease about the future, the weekly Der Spiegel on Sunday quoted Interior Minister Hans-Peter Friedrich as arguing that Greece would have better chances of “regenerating and becoming more competitive” outside the eurozone.

“I’m not talking about throwing Greece out, but about creating incentives for an exit that they can’t refuse,” he added, according to the report.

Friedrich’s ministry isn’t involved in the response to the eurozone crisis. Other officials quickly dismissed the idea of Greece leaving the euro and said they expect the minister will vote for the bailout on Monday.

Meanwhile, Greek MPs are due to vote on 3.2 billion euros of budget cuts on Tuesday. This includes cuts to basic and auxiliary pensions.

Greece is aiming to complete a series of so-called prior actions agreed with the EU and IMF before the European Union leaders’ summit later this week.

[Associated Press & Kathimerini English Edition]

ekathimerini.com , Monday February 27, 2012 (11:40)  
Ministry swap halts talk of reshuffle as reforms eyed
Turkish-Greek cooperation in Aegean helps stem flow of migrants
Holocaust memorial in Athens vandalized
Turkey raises tensions, insisting on keeping vessel off Cyprus
Banks unhappy with bad loans bill
Bank officials are expressing serious reservations about the efficiency of the government’s bill regarding nonperforming corporate loans, arguing that the target set by the Development Minis...
State debtor numbers grew in September
Over 850,000 taxpayers chose not to pay their taxes in September in anticipation of the new payment programs the government had announced it would introduce. The new state debtors will be ab...
Inside Business
BASKETBALL
Obradovic watches Greens thrash his Fenerbahce
The second homecoming of former Panathinaikos coach Zeljko Obradovic, now at Fenerbahce, was not as emotional as last year’s, but it was certainly was the night of an emphatic triumph for th...
SOCCER
Berg returns to add spice to Panathinaikos´s Cup win
The second round of games for the group stage of the Greek Cup produced plenty of interesting games and results in midweek, but it still lags the upset potential that the knock-out stages of...
Inside Sports
COMMENTARY
The judiciary’s responsibility
The reform efforts over the past few years have begun to bear fruit. Greece has improved its standing in the World Bank’s Doing Business rankings, rising 48 positions from 2010 to 61st place...
EDITORIAL
Findings raise eyebrows
An investigation into money transferred to foreign banks by civil servants since 2010, when Greece’s brutal debt crisis erupted, has come up with some striking findings. The checks, which we...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Banks unhappy with bad loans bill
2. State debtor numbers grew in September
3. Reform plan among conditions
4. Ministry swap halts talk of reshuffle as reforms eyed
5. Cyprus ruling opens way for bailout funds
6. Turkish-Greek cooperation in Aegean helps stem flow of migrants
more news
Today
This Week
1. Man shot dead, woman injured in Vathis square attack
2. Archaeologists find underground vault at Amphipolis tomb
3. Cyprus’s Georgiades bets on economy for Irish-style bailout exit
4. Greek retail sales rise for third month in a row
5. Germany’s 10-year bonds decline before euro-area inflation data
6. New defense minister to be appointed without reshuffle
Today
This Week
1. Austria’s creative bookkeeping beats Greece on secret debts
2. End of reason, end of humanity
3. Clean bill of health for Greek banks from stress tests
4. Samaras pledges action after flash floods in Athens
5. Eurobank, National Bank restructurings eliminate capital gap
6. Athens flood damage assessed, compensation payments to begin
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.