February 27, 2012 - 22:07 AMT
German parliament backs Greek bailout despite risks

The German parliament gave its resounding support Monday, February 27 to a 130-billion-euro (174.4-billion-dollar) bailout for debt-stricken Greece, despite Chancellor Angela Merkel warning of the risks of throwing Athens another financial lifeline, M&C reported citing DPA.

Of the voting members of the lower of house of the German parliament, the Bundestag, 496 backed the rescue package, with opposition Social Democrats (SPD) and Greens siding with the government. Five lawmakers abstained, while 90 voted against the package.

In a speech urging parliamentarians to back the package, Merkel warned that rescuing Greece was not without risks. “No one can provide a 100-per-cent guarantee of success,” she said.