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| Greece debt crisis: German MPs vote on bailout | |
| (35 minutes later) | |
| The German parliament is voting on whether to allow negotiations on Greece's €86bn (£60bn) bailout deal. | |
| Before the vote, Chancellor Angela Merkel warned of "predictable chaos" if deputies did not back the plan. | |
| The deal is expected to be passed despite opposition from the left and some members of Mrs Merkel's conservative Christian Democrat party. | |
| Greek MPs have already voted in favour of hard-hitting austerity measures required for a third bailout deal. | Greek MPs have already voted in favour of hard-hitting austerity measures required for a third bailout deal. |
| On Thursday, the European Central Bank (ECB) raised the level of emergency funding available. This has paved the way for Greek banks, which shut nearly three weeks ago, to reopen on Monday. | On Thursday, the European Central Bank (ECB) raised the level of emergency funding available. This has paved the way for Greek banks, which shut nearly three weeks ago, to reopen on Monday. |
| But credit controls limiting cash withdrawals to €60 a day will only be eased gradually, officials say. | But credit controls limiting cash withdrawals to €60 a day will only be eased gradually, officials say. |
| Eurozone ministers have also agreed a €7bn bridging loan from an EU-wide fund to keep finances afloat. | Eurozone ministers have also agreed a €7bn bridging loan from an EU-wide fund to keep finances afloat. |
| Analysis: Jenny Hill, BBC News, Berlin correspondent | Analysis: Jenny Hill, BBC News, Berlin correspondent |
| It's German Chancellor Angela Merkel's 61st birthday - but don't expect a celebratory mood in the Bundestag. | It's German Chancellor Angela Merkel's 61st birthday - but don't expect a celebratory mood in the Bundestag. |
| The German parliament is expected to vote in favour of the proposal. But the mood is ugly. Forty-eight of Mrs Merkel's conservative MPs indicated last night they will defy her. Others will go along with the party line but grudgingly; many here struggle to justify a third bailout to taxpayers in their constituencies. | The German parliament is expected to vote in favour of the proposal. But the mood is ugly. Forty-eight of Mrs Merkel's conservative MPs indicated last night they will defy her. Others will go along with the party line but grudgingly; many here struggle to justify a third bailout to taxpayers in their constituencies. |
| This morning a poll revealed 49% of Germans don't want to enter talks over the deal. | This morning a poll revealed 49% of Germans don't want to enter talks over the deal. |
| Finance Minister Wolfgang Schaeuble can expect a tough time too; his notoriously hawkish stance has upset some MPs who worry that Germany's reputation has been damaged as a result. | Finance Minister Wolfgang Schaeuble can expect a tough time too; his notoriously hawkish stance has upset some MPs who worry that Germany's reputation has been damaged as a result. |
| Interestingly, Mr Schaeuble used an interview on the eve of the debate to raise the prospect again of a temporary Greek exit from the eurozone. | Interestingly, Mr Schaeuble used an interview on the eve of the debate to raise the prospect again of a temporary Greek exit from the eurozone. |
| Chancellor Merkel told MPs ahead of Friday's vote that the deal was hard for all sides, but said it was the "last" attempt to resolve the crisis. | Chancellor Merkel told MPs ahead of Friday's vote that the deal was hard for all sides, but said it was the "last" attempt to resolve the crisis. |
| "We would be grossly negligent, indeed acting irresponsibly if we did not at least try this path," she said. | "We would be grossly negligent, indeed acting irresponsibly if we did not at least try this path," she said. |
| Austria's parliament voted in favour of negotiations on Friday, before the outcome of the German vote was announced. | Austria's parliament voted in favour of negotiations on Friday, before the outcome of the German vote was announced. |
| Germany and Austria are among several eurozone states requiring parliamentary approval to go ahead with bailout talks. France and Finland have already backed the negotiations. | Germany and Austria are among several eurozone states requiring parliamentary approval to go ahead with bailout talks. France and Finland have already backed the negotiations. |
| Meanwhile, there have been fresh calls for Greek debt relief measures from International Monetary Fund (IMF) chief Christine Lagarde - echoing a call from Greek PM Alexis Tsipras. | Meanwhile, there have been fresh calls for Greek debt relief measures from International Monetary Fund (IMF) chief Christine Lagarde - echoing a call from Greek PM Alexis Tsipras. |
| Ms Lagarde told France's Europe 1 the IMF would participate in a "complete" Greek package that includes debt restructuring, as well as an "in-depth reform" of the Greek economy. | Ms Lagarde told France's Europe 1 the IMF would participate in a "complete" Greek package that includes debt restructuring, as well as an "in-depth reform" of the Greek economy. |
| Greece has debts of €320bn and is seeking its third international bailout. Last month it became the first developed country to fail to make a repayment on a loan from the IMF. | Greece has debts of €320bn and is seeking its third international bailout. Last month it became the first developed country to fail to make a repayment on a loan from the IMF. |
| The bank closures have been one of the most visible signs of the crisis. | The bank closures have been one of the most visible signs of the crisis. |
| From Monday, a weekly limit on withdrawals may replace a daily cap, Greek Deputy Finance Minister Dimitris Mardas suggested. | From Monday, a weekly limit on withdrawals may replace a daily cap, Greek Deputy Finance Minister Dimitris Mardas suggested. |
| "If someone doesn't want to take €60 on Monday and wants to take it on Tuesday, for instance, they can withdraw €120, or €180 on Wednesday," he told Greek ERT television. | "If someone doesn't want to take €60 on Monday and wants to take it on Tuesday, for instance, they can withdraw €120, or €180 on Wednesday," he told Greek ERT television. |
| VAT increase | VAT increase |
| The announcements from the ECB and the Eurogroup came after Greek MPs passed tough reforms on taxes, pensions and labour rules as part of the new bailout deal. | The announcements from the ECB and the Eurogroup came after Greek MPs passed tough reforms on taxes, pensions and labour rules as part of the new bailout deal. |
| A rise in value added tax (VAT) from 13% to 23% will kick in on Monday, affecting food and drink in restaurants, taxi fares, selected supermarket items, public transport and plane and ferry tickets. | A rise in value added tax (VAT) from 13% to 23% will kick in on Monday, affecting food and drink in restaurants, taxi fares, selected supermarket items, public transport and plane and ferry tickets. |
| Greek Prime Minister Alexis Tsipras faced opposition to the deal from MPs within his left Syriza party. He is widely expected to announce a cabinet reshuffle on Friday. | Greek Prime Minister Alexis Tsipras faced opposition to the deal from MPs within his left Syriza party. He is widely expected to announce a cabinet reshuffle on Friday. |
| What happens next? | What happens next? |