World Economy

4 Countries Approve 3rd Greek Bailout

4 Countries Approve 3rd Greek Bailout4 Countries Approve 3rd Greek Bailout

Lawmakers in Spain have voted to ratify a third financial bailout for Greece. Germany also approved the bailout late Wednesday, despite many members of Chancellor Merkel’s conservatives were expected to vote against it, DW reported. Members of Spain’s lower house of parliament on Tuesday approved the latest bailout for Greece, worth €86-billion ($95 billion) by a vote of 297 to 29. The only party to reject the deal was the small far-left party United Left.  Both Estonia and Austria also approved the bailout on Tuesday. Fifty of the 93 Estonian lawmakers present at the parliamentary session voted in favor of the deal, while in Vienna, the Austrian parliament’s European Stability Mechanism subcommittee signed off on it, as well. The 18-member committee was required to approve the bailout because the funds for the latest bailout are to come from the ESM. The approval of the Austrian parliament is not required, but a debate on the issue is expected to be held in the near future.