Germany's Bundestag Backs Term Extension for Greece Aid Package

The overwhelming majority of Bundestag members supported the extension of an economic aid package for Greece for another four months.

BERLIN (Sputnik) – Germany’s Bundestag has supported the extension of an economic aid package for Greece for another four months, Bundestag Vice-President Claudia Roth said Friday.

“Of the 587 valid votes, 542 voted ‘for,’ 32 voted ‘against,’ and 13 abstained, thus the request has been accepted,” Roth said.

The deadline for Greece's bailout program, overseen by the so-called troika of international money lenders — the European Commission, the International Monetary Fund and the European Central Bank — expires on February 28. Without an extension or restructuring of its debt, Greece risks bankruptcy and even being forced out of the eurozone.

The Greek government submitted a list of reforms to be carried out in exchange for approval from international creditors to secure a four-month loan extension on Monday.

The Eurozone finance ministers announced Tuesday they consider this list of measures presented by the Greek authorities to be sufficiently comprehensive and approved a four-month extension to the Greek bailout program. Now the extension needs to be ratified by the Eurozone members.

Alexis Tsipras formed a new Greek government after his leftist Syriza party won the country's general election in January. The new government said it does not want to follow the austerity measures, initiated by the previous government under troika pressure, rejects the troika's terms and seeks to renegotiate its overwhelming debt.