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German parliament approves Greek bailout

Aug. 19, 2015 5:03 AM ETGlobal X MSCI Greece ETF (GREK)GREKBy: Yoel Minkoff, SA News Editor6 Comments
  • German lawmakers are expected to vote overwhelmingly in favor of Greece's third bailout later today, ending months of heated negotiations between international creditors and the cash-strapped country.
  • German Finance Minister Wolfgang Schaeuble on the matter: "There is no guarantee that this all will work...but due to the fact that the Greek parliament has already approved a big part of the (aid-for-reform) measures, it would be irresponsible not to use the chance for a new beginning."
  • Greece is hoping the approval, along with the support from other eurozone parliaments, will translate into fresh funds ahead of a €3.4B ECB payment due on Thursday.
  • Update: The German Parliament has backed the rescue package.
  • ETFs: GREK

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