German government approves Greek bailout extension

FXStreet (Mumbai) - The German parliament approved an extension of Greece's bailout on Friday with 542 lawmakers voting in favor after finance minister Wolfgang Schaeuble said Athens would not be allowed to "blackmail" its euro zone partners.

Almost all of Chancellor Angela Merkel's right-left coalition plus the opposition Greens, voted in favor of the debt extension leading to the biggest majority for any Eurozone rescue package so far in the 631-seat chamber.

The four-month extension program approved by the Eurogroup faced the only major parliamentary hurdle-Bundestag.