German cabinet approves Greece bailout

The German cabinet has approved draft legislation to bail out debt-ridden Greece. The bill covers Germany's contribution of up to 22.4 billion euros over a period of three years. The rescue plan is part of the 110-billion-euro aid package reached by the Greek government, the European Commission, the European Central Bank and the International Monetary Fund. German Chancellor, Angela Merkel, says the plan will also contribute to the overall stability of the eurozone. IMF officials say Greece will receive the first aid within a week.

• 2010-05-05T07:05:46+00:00
• Duración: 00:37

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The German cabinet approved draft legislation bail debt-ridden Greece bill covers Germany's contribution 22 4 billion euros over period three years The rescue plan part 110-billion-euro aid package reached Greek government European Commission European Central Bank and International Monetary Fund erman Chancellor Angela Merkel says plan will also contribute overall stability eurozone IMF officials say Greece will receive first aid within week