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Greece bailout: German MPs back deal after Schaeuble appeal Greece bailout: German MPs back deal after Schaeuble appeal
(about 1 hour later)
German MPs have voted by a large majority to approve a third bailout deal for Greece.German MPs have voted by a large majority to approve a third bailout deal for Greece.
In total 454 members of parliament voted in favour, while 113 rejected the bailout and 18 abstained. In total 453 members of parliament voted in favour, while 113 rejected the bailout and 18 abstained.
German Finance Minister Wolfgang Schaeuble earlier warned MPs that it would be "irresponsible" to oppose the €86bn ($95bn; £61bn) package.German Finance Minister Wolfgang Schaeuble earlier warned MPs that it would be "irresponsible" to oppose the €86bn ($95bn; £61bn) package.
Chancellor Angela Merkel's centre-right conservative bloc has been divided over the deal.Chancellor Angela Merkel's centre-right conservative bloc has been divided over the deal.
Prior to the vote nearly 60 of her own MPs had indicated they would vote against the rescue package.Prior to the vote nearly 60 of her own MPs had indicated they would vote against the rescue package.
In total 46 MPs did not attend the session, reports the BBC's Jenny Hill in Berlin. In total 47 MPs did not attend the session.
It is thought a significant proportion are conservatives, who stayed away to avoid defying Mrs Merkel and voting no to the deal. It is thought a significant proportion are conservatives, who stayed away to avoid defying Mrs Merkel and voting no to the deal, reports the BBC's Jenny Hill in Berlin.
Mrs Merkel's Christian Democrat (CDU) party and its Bavarian CSU allies hold 504 seats in the 631-seat Bundestag. Mrs Merkel's Christian Democrat (CDU) party and its Bavarian CSU allies hold 504 seats in the 631-seat Bundestag. Mrs Merkel's coalition partner, the Social Democrats, supported the deal, as did the opposition Greens.
Last month, 65 CDU/CSU politicians refused to support even starting negotiations for a third bailout.Last month, 65 CDU/CSU politicians refused to support even starting negotiations for a third bailout.
IMF assurances Doubts
The finance minister told Wednesday's debate in parliament before MPs voted that they should "seize the chance" for a new beginning for Greece. Despite being one the harshest critics of Greece's left-wing Syriza government, Germany's finance minister told MPs before the vote that they should give Greece the opportunity of a new start.
Mr Schaeuble said: "There is no guarantee that all of this will work and there can always be doubts. Mr Schaeuble told parliament: "There is no guarantee that all of this will work and there can always be doubts.
"But considering the fact that the Greek parliament already approved most of the measures, it would be irresponsible not to seize this chance for a new beginning in Greece.""But considering the fact that the Greek parliament already approved most of the measures, it would be irresponsible not to seize this chance for a new beginning in Greece."
MPs have been worried about two unanswered questions - the extent of any debt write-off for Greece and whether the International Monetary Fund will back the bailout.MPs have been worried about two unanswered questions - the extent of any debt write-off for Greece and whether the International Monetary Fund will back the bailout.
The IMF is avoiding any commitment until Greece's progress is assessed in October.The IMF is avoiding any commitment until Greece's progress is assessed in October.
Some German MPs suspect that the deal could lead to part of Greece's large debt being written off - with EU taxpayers having to foot the bill.Some German MPs suspect that the deal could lead to part of Greece's large debt being written off - with EU taxpayers having to foot the bill.
Earlier Conservative MP Dagmar Woehrl vowed to vote against the package, saying: "If we're honest, this is a hidden debt haircut (write-down) at the expense of our children and grandchildren." Reneged on pledge
But CDU General Secretary Peter Tauber warned a vote against the deal was "tantamount to stabbing the chancellor in the back". German MPs had to be recalled from their summer break for the emergency vote on the deal, which has already been approved by Greece's parliament and eurozone finance ministers.
A number of parliaments in the eurozone, including Germany, were required to approve the deal with a vote.
On Tuesday, MPs in Austria, Estonia and Spain backed the bailout.On Tuesday, MPs in Austria, Estonia and Spain backed the bailout.
German MPs had to be recalled from their summer break for the vote. The Dutch parliament also debated the bailout on Wednesday, after anti-EU Freedom Party leader Geert Wilders insisted MPs should be recalled from their summer recess.
The Dutch parliament has also begun debating the bailout with a vote expected to back the deal later. During his 2012 election campaign, Dutch Prime Minister Mark Rutte vowed "not one cent more for Greece" but has since admitted reneging on the pledge.
But doubts remain about the Greek government's commitment to the bailout conditions because it previously pledged to oppose austerity. Although the Dutch parliament vote will not change the cabinet's decision to support the bailout, it could lead to a confidence vote for Mr Rutte.
Many MPs in the ruling Syriza party believe Prime Minister Alexis Tsipras allowed the eurozone lenders to dictate unacceptable terms to Greece, violating the country's sovereignty. The vote by German MPs was the final hurdle before the first instalment of the package - €13bn - could be released, in time for Greece to repay €3.2bn on Thursday to the European Central Bank (ECB).
In exchange for the bailout - and keeping Greece in the euro - Mr Tsipras agreed to further painful state sector cuts, including far-reaching pension reforms. Doubts remain about the Greek government's commitment to the bailout conditions because it previously pledged to oppose austerity.
The new loans will be spread over the next three years. The first tranche will be €26bn - €10bn to recapitalise Greek banks and €16bn in several instalments, the first of which - €13bn - will be made by 20 August, when Greece must repay about €3.2bn to the European Central Bank (ECB). In exchange for the bailout - and keeping Greece in the euro - Prime Minister Alexis Tsipras agreed to further painful state sector cuts, including far-reaching pension reforms.
The new loans will be spread over the next three years. The first tranche of €26bn will include €10bn to recapitalise Greek banks.