German MPs approve new Greek bailout

The German parliament on Monday approved a 130-billion-euro loan package for Greece after Chancellor Angela Merkel warned it would be irresponsible to abandon the country to bankruptcy.

Parliament voted 496-90 with five abstentions for the new package on Monday afternoon. A wide majority was expected, with two opposition parties in favor, although bailing out Greece has never been popular in Germany.

The rescue is Greeces second in less than two years and also involves private-sector investors accepting big losses the bonds they hold, along with tough new Greek austerity measures.

Merkel told lawmakers before the vote that «no one can give a 100 percent guarantee of success» for the rescue program.