Friday, May 7, 2010

Greek bailout plan approved by German Parliament

Washington Post
May 7, 2010

The German parliament gave overwhelming approval Friday to the unpopular financial rescue plan put together by the European Union and the International Monetary Fund to save Greece from bankruptcy.

The Bundestag, the lower house, voted 390 to 72 with 139 abstentions in favor of the loan package. Its approval was followed almost immediately by an endorsement in the Bundesrat, the upper house, completing legislative action in the 16 euro zone countries and clearing the way for their leaders to make the loans available at a special summit set for Brussels later Friday.

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