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Tuesday, February 24, 2015

Merkel Asks German Conservatives to Back Greek Bailout Extension

German Chancellor Angela Merkel has asked her conservative Christian Democratic Union to support the proposed extension of Greece’s bailout programme in a parliament vote this week, AFP reported on Tuesday. The eurozone finance ministers earlier in the day approved a four-month extension of the financial rescue programme for Greece after Athens issued a list of reform proposals. But Merkel also warned that the "task is by no means done" and said talks with the new Greek left-wing government would continue, AFP said. German Vice Chancellor Sigmar Gabriel said: “We want to continue to help Greece, but the condition for this is the continuation of the reform programme."  Parliaments in several eurozone member states including Germany must now vote on the bailout extension before Greece's current funding programme expires on Saturday. With many details of the deal still remaining to be hammered out, EU Economic Affairs Commissioner Pierre Moscovici commented the eurozone has avoided a crisis “but there are many challenges ahead."


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