German Bundestag set to vote on Greek bailout today

Greece will pass a major hurdle today in the prices of getting its third bailout deal as Germany’s Bundestag is set to vote on it later today.

The deal worth 86 billion euros was agreed to at a first stage by Greek and EU negotiators on Tuesday (11 August) and means major reforms to Greece’s social welfare, tax and healthcare systems, which are controversial with Syriza supporters. The European Commission, the International Monetary Fund, the European Central Bank, and the European Stability Mechanism, the EU’s bailout fund, took part in the negotiations with the Greek government to nail down details on the bailout.

The vote is expected to pass in the German Parliament today though as a majority of German MPs are expected to vote to pass it. However, the vote threatens to be overshadowed by an expected rebellion in Chancellor Angela Merkel’s centre-right alliance. The rebellion in the Bundestag (lower house) could rise to 100 MPs, German commentators say – a third of the total in Mrs Merkel’s bloc.

The post German Bundestag set to vote on Greek bailout today appeared first on Forex Circles.

Source:: German Bundestag set to vote on Greek bailout today

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