BERLIN (MNI) – The German upper house of parliament, the Bundesrat
representing the 16 states, on Friday approved German loans to Greece of
up to E22.4 billion over three years, with a first tranche of up to E8.4
billion this year.
The lower house of parliament, the Bundestag, already passed the
bill earlier today.
The state-owned KfW bank is to grant the loans to Greece. Both
houses of parliament today authorized the government to guarantee these
loans.
Eurozone leaders are to approve the full program later today at a
meeting in Brussels. The joint package of Eurozone countries and the IMF
amounts to E110 billion in loans over a period of three years. The
Eurozone states will shoulder E80 billion, the IMF E30 billion.
Several German professors today filed a lawsuit at the German
Constitutional Court against the German aid for Greece. They asked for
an injunction against disbursing the loans to Greece until the case is
decided.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
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