Despite Unease of New Greek Government, Germany Approves Greece's 4-Month Bailout Extension

Despite Unease of New Greek Government, Germany Approves Greece’s 4-Month Bailout Extension

July 27, 2023

in Trade Tube

Reading Time: 1 min read

Germany’s Parliament has given its overwhelming approval to the four-month extension of Greece’s financial bailout, despite unease over the new government in Athens. Lawmakers voted 542-32 on Friday to back the bailout extension, with 13 abstentions. Finance Minister Wolfgang Schaeuble said ahead of the vote that ‘this is not about new billions for Greece, not about changing this program’ and stressed that the goal is to complete Greece’s existing bailout successfully. Germany, a key creditor nation, has advocated unpopular spending cuts and insisted that aid must come with strings attached. Comments by Greek officials casting doubt on privatization deals and raising the possibility of further debt relief have irked some in Germany.

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