The German parliament will probably hold a special meeting on July 6, its first extraordinary session on the debt crisis, to vote on Spain’s request for a bailout, the Bild Zeitung newspaper reported, citing unidentified coalition lawmakers.
Germany has to approve a so-called memorandum of understanding on Spain’s bailout petition, the newspaper said in a pre-release of an article to be published today. The parliament may meet again a week later to decide on Cyprus’s request for aid, the newspaper said.
Spain formally requested a bailout for its banks this week, and Cyprus also sought a financial lifeline from the euro area’s firewall funds, becoming the fourth and fifth of the currency union’s 17 member states to require external aid.
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