The German parliament today voted to approve the Greek bailout talks, means Athens has cleared a major hurdle towards unlocking a rescue fund worth up to $90 billion. Before the vote German Chancellor Angela Merkel pleaded with the parliament to say yes or face chaos.
“No matter how large the differences are we are going to engage in overcoming Greece’s problem because the EU and the euro is not only a currency, it is the fundamental concept of European unity,” Merkel said.
She is at odds with her finance minister, something that reflects the wider division throughout Europe. Despite the passing of today’s vote, Wolfgang Schaeuble has said, “It may be better for Greece if it temporarily leaves the euro.”
While the head of the European Central Bank Mario Draghi on Thursday there was never a question Greece will remain in the euro area.