Merkel to defend Greece aid decision in German parliament

German Chancellor Merkel will defend her government decision to join in a bailout plan for Greece in the Bundestag lower house of parliament.

Merkel to defend Greece aid decision in German parliament

German Chancellor Angela Merkel will defend her government's decision to participate in a bailout plan for debt-stricken Greece in a speech to the Bundestag lower house of parliament on Wednesday at 0630 GMT.

Both the upper and lower houses of parliament are expected to vote this Friday on a draft law that would allow Germany to participate an aid package for Greece agreed by European finance ministers last Sunday.

The parliamentary budgetary committee will hold an open debate on the draft law on Wednesday between 0830 and 1130 GMT. Attending the debate will be Bundesbank President Axel Weber and Ulrich Schroeder, the head of the German state bank that would lend money to Greece if Berlin approves the aid package.

Germany, which has taken a series of measures in recent years to curb its own budget deficit, had taken a stand against a quick Greek bailout to try and raise pressure on other states to take more responsibility for their own finances.

However, Merkel bowed to pressure from the European Union and International Monetary Fund last week as market turmoil grew, throwing her support behind a rescue, and now she must convince parliament and sceptical voters.

Reuters

Last Mod: 04 Mayıs 2010, 22:22
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