Germany easily, warily approves Greek bailout extension

German Finance Minister Wolfgang Schäuble and his Greek counterpart, Yanis Varoufakis, shake on it

(Image credit: Carsten Koall/Getty Images)

On Friday, Germany's lower house of parliament voted, 542 to 32, to approve a four-month extension of Greece's financial bailout. German Finance Minister Wolfgang Schäuble had reluctantly urged his colleagues to approve the extension, arguing that failing to do so would cause Germany and Europe "great damage." But "the discussions before and after the elections in Greece didn't make this decision any easier," he added, "and neither have the discussions of the past few days and hours, to put it mildly." Under the terms of the agreement, Greece has to reform its labor laws and judiciary to fight corruption and tax evasion.

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Peter has worked as a news and culture writer and editor at The Week since the site's launch in 2008. He covers politics, world affairs, religion and cultural currents. His journalism career began as a copy editor at a financial newswire and has included editorial positions at The New York Times Magazine, Facts on File, and Oregon State University.