German Parliament Approves Greek Bailout Money
Angela Merkel was able to get an approval from the Germany parliament for bailout money needed by Greece. It was the last hurdle to the complete of the new loans. It can about the same time as S&P said Greece…
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Angela Merkel was able to get an approval from the Germany parliament for bailout money needed by Greece. It was the last hurdle to the complete of the new loans. It can about the same time as S&P said Greece was in “selective default” because it forced private creditors to take something less than the face value as they trade old debt for new.
Merkel got less than the majority of what she wanted for the approval, with some members of her own coalition walking away from her. The pressure on members is tremendous because most Germans believe that Greece should get no aid.
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