Bloomberg News

German Parliament Approves 2nd Greek Bailout

February 27, 2012

Germany’s lower house of parliament approved a second euro-region Greek bailout package worth 130 billion euros ($174 billion).

The lower house, or Bundestag, voted 496 in favor of the measure; 90 voted against, while five abstained in Berlin today.

European leaders’ efforts to stave off a collapse of the Greek economy may win time to resolve the region’s debt crisis, now in its third year. With parliamentary passage of the Greek measures, German Chancellor Angela Merkel and others will shift their focus on whether to bolster the region’s bailout firewall as they prepare for a summit meeting in Brussels on March 1-2.

To contact the reporter on this story: Tony Czuczka in Berlin at aczuczka@bloomberg.net

To contact the editor responsible for this story: Leon Mangasarian at lmangasarian@bloomberg.net


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