Germany: New €86 billion Greek bailout approved by Bundestag

The German Parliament approved a new €86 billion ($95 billion) Greek bailout package in Berlin, Wednesday, with 454 out of 585 voting in favour of the bailout, 113 voting 'no,' and 18 abstaining. By voting in favour, the parliamentarians accepted the first tranche of the bailout worth €26 billion ($28.7 billion) to be paid instantly, while further loans will be paid on merit after a few weeks. On Tuesday, a mock ballot was held in which 60 MPs out of the 311-strong conservative bloc (CDU/CSU) voted against or abstained from voting. Spain, Estonia and Austria have already approved the bailout, while the Dutch parliament will vote later on Tuesday.