Thursday August 21, 2014 Search
Weather | Athens
29o C
23o 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)  
Botched steroid deal led to Mani murders
Public works near completion, minister says
Air-traffic controllers voice stress concerns
Sphinxes at burial site at Ancient Amphipolis revealed
Greek stocks post rise of 0.99 percent
The Athens Stock Exchange general index closed 0.99 percent higher on Wednesday, at 1,119.97 points, as turnover totaled 76.4 million euros. Among large-cap shares, Jumbo was the best perfor...
Banks reject stress test concerns
Greek banking sources are denying reports that the sector will need a new round of increased capital support, announcing that no such news has been delivered to them by the European Central ...
Inside Business
SOCCER
Greek soccer officials in refereeing probe to face prosecutor on Sept 15
Eleven soccer officials were on Wednesday given until September 15 before they have to face prosecutor Aristidis Koreas, who is investigating allegations that the draws to decide which match...
ATHLETICS
Long jumper Tsatoumas takes Greece´s second silver at European Championships
Greece won its second medal at the European Athletics Championships in Zurich, Switzerland, on Sunday with Louis Tsatoumas coming second in the long jump. Briton Greg Rutherford won the even...
Inside Sports
COMMENTARY
Logged out of reality
It is a global phenomenon, and we have yet to fully grasp its implications for democracy and the functionality of Western states. The Internet is a bottomless well of information and a vast ...
EDITORIAL
Manipulated institutions
Greece’s leftist opposition must not manipulate an institution as important as the President of the Republic for the sake of political ends. Regrettably, SYRIZA leader Alexis Tsipras appears...
Inside Comment
SPONSORED LINK: FinanzNachrichten.de
SPONSORED LINK: BestPrice.gr
 RECENT NEWS
1. Botched steroid deal led to Mani murders
2. Greek stocks post rise of 0.99 percent
3. Banks reject stress test concerns
4. Greek energy minister requests gas back-up
5. Greece an alternative route for South Stream, report suggests
6. Public works near completion, minister says
more news
Today
This Week
1. Greek current account surplus widens in June
2. Two missing men found shot dead near Kalamata
3. Logged out of reality
4. Greek firms see 30 pct rise in PayPal payments from abroad in 2014
5. ECB in policy limbo, boxed in by its own plans
6. Greece to give children at primary school road safety lessons
Today
This Week
1. Carved sphinxes at Ancient Amphipolis tomb will not be removed
2. Canada’s fiscal adjustment has lessons for Greece
3. Treating Amphipolis with care
4. Greece to offer law on restructuring bad loans next month
5. Greece’s recession eases as country nears end to six-year slump
6. Ministry sys ‘no’ to debt collection agencies
   Find us ...
  ... on
Twitter
     ... on Facebook   
About us  |  Subscriptions  |  Advertising  |  Contact us  |  Athens Plus  |  RSS  |   
Copyright © 2014, H KAΘHMEPINH All Rights Reserved.