German lawmakers back Merkel on Greece bailout plan

[WorldNews]

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German lawmakers gave Chancellor Angela Merkel the green light to negotiate a new bailout deal for Greece as EU members approved on Friday a 7-billion-euro bridge loan for the cash-strapped state. European Commission Vice President Valdis Dombrovskis told reporters in Brussels that all 28 EU member states had now agreed on the short term loan of 7.16 billion euros ($7.8 billion) to Greece. The loan, to be given through the EFSM rescue fund, will allow Greece to make a critical payment of 4.2 billion euros due Monday to the European Central Bank needed to keep the country in the euro.

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