WORLD News

Germany formally approves loan to Greece

 

German legislators have formalised the loan approval to Greece as agreed at the Eurogroup meeting June 15.

On Wednesday, the German Parliament's Budget Committee approved the disbursment of the next installment of loans to Greece.

In attendance to the closed session was German Finance Minister Wolfgang Schaeuble.

According to reports however, the closed session nature of the approval was met with criticism with opposition MPs accusing Schaeuble of avoiding a public discussion on the role of the International Monetary Fund (IMF) in the Greek programme.

According to the parties, he would then have to tell the German people the truth and admit that the IMF had declined to participate in the Greek programme financially because it considers Greece's debt unsustainable.

 

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GCT Team

This article was researched and written by a GCT team member.

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