Home >> Business

Greece debt crisis live updates: German MPs to vote on Greek bailout

Greece debt crisis live updates: German MPs to vote on Greek bailout - The German parliament is set to vote on whether to allow discussions on Greece's bailout deal.

Germany is one of the several eurozone states that must give the green signal before the agreement can go ahead. The agreement is expected to be approved, though a number of conservative MPs are refusing to fund any more financial help for Greece.

The development came after Greek Prime Minister Alexis Tsipras won a parliamentary vote on the bailout agreements in the early hours of Thursday. The parliaments of France and Finland have already supported the deal.

The country is in debts of $320bn and is looking for its third international bailout. Last month it became the first developed country which failed to make a payment to the IMF.

ECB President Mario Draghi spoke to a news conference and said that emergency funding - ELA - to Greek banks was being raised by $900m over one week.

It was agreed in a conference call on Thursday to utilize the EU's EFSM emergency fund and is likely to be confirmed on Friday by all EU member states.

The move had infuriated some EU members who are not in the single currency.