Roundup: German parliament votes "Yes" to negotiations on third Greek bailout

The German parliament voted an overwhelming "Yes" to start formal negotiations on a third Greek bailout on Friday.

A total of 439 lawmakers voted in favor of the talks, 119 opposed and 40 abstained, giving the German government a green light to negotiate with Greece on its third bailout within five years, a process expected to last for weeks.

The vote followed an over-three-hour debate where German Chancellor Angela Merkel told lawmakers that it was not only a decision on Greece, but also a decision on a strong Europe.

The chancellor said the third bailout was the only possible option to save Greece and European solidarity. Without a deal, chaos and violence would be resulted.

However, the number of lawmakers voted "No" was significantly higher than in February when the parliament voted on the extension of Greece's second bailout program. At that time, only 32 lawmakers rejected the extension.

There were increasing doubts in Germany about whether the new aid worth up to 86 billion euros (about 93 billion U.S. dollars) would succeed.

According to parliamentary figures, 60 members of Merkel's conservative CDU/CSU union joined oppositions and voted against the talks on Friday. In February, there were only 29 rebels.

A poll conducted earlier this week also found 81 percent of Germans doubted Greece would actually implement the reform measures it agreed, while only 14 percent trusted them to.

On Thursday, German Finance Minister Wolfgang Schaeuble said he still thought a temporary exit of Greece from the euro zone was a better option as it would pave paths for Greece to write down its huge debt, a measure seen as necessary to really resolve the crisis.

He even questioned whether a new program could be finally reached in the negotiations, taking into account Greece's increasing financing needs.

In a fiery speech in the parliament on Friday, Schaeuble reiterated that debt haircut was illegal in the euro zone and thus was not a possible solution. He warned that negotiations on the third bailout was "the last attempt" to resolve the Greek crisis.

Germany was the biggest contributor to previous two bailout programs to Greece. A nod from its parliament was one of the prerequisites for a formal negotiations on the third bailout to really start.

Earlier on Friday, the Austrian parliament also voted in favor of starting the talks, following legislatures in France and Lithuania on Thursday.

According to an agreement reached by European leaders on Monday, Greece's international creditors would be entrusted to negotiate with Greece on details of a planned three-year bailout program once relevant national procedures were completed.

When the negotiations conclude, any final deal has to be ratified again by parliaments of European countries, including Germany, before it enters into force. Endit