Wednesday, August 19, 2015

Germany Approves Third Bailout For Greece

Germany Approves Third Bailout For Greece


German lawmakers cleared the way for Greece's third bailout, voting for the financial lifeline of as much as 86 billion euros by a wide margin.

Resistance grew in Chancellor Angela Merkel's caucus, where 63 lawmakers opposed the aid package Wednesday, three more than in the last vote on Greece in July.

"Greece won't make it in the euro zone and we won't succeed at keeping the euro zone together by force against the will of the people".

Bild, Germany's most-read newspaper, said in an editorial opposing the program that "It doesn't offer a rescue - not for Greece, not for the euro and certainly not for Europe" after "Five wasted years of rescue policies."

"Greece won't make it in the euro zone and we won't succeed at keeping the euro zone together by force against the will of the people," said Klaus-Peter Willsch, a lawmaker in Merkel's Christian Democratic Union who has persistently opposed bailout funding.

"If we don't allow the euro zone to breathe, and that means to allow Greece to exit now with its own currency," then the euro will fail.

"For people in Germany, Greece is a topic, but our ability to solve problems will be judged not against the question of Greece, but against the question of asylum and refugees," he said.

This article originally appeared on bloomberg.com 


Over to you 

Is it ok to visit Greece as a tourist now? Who benefits from the Greek crisis? Why should Greece stay in the Eurozone? What will happen if all countries have the same issues as Greece? Share your opinion and thoughts in the comments below.

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Posted By Jacquelyn McMullen at 12:00 PM
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