German Cabinet approves $11 billion Greece bailout
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A German official says Chancellor Angela Merkel's Cabinet has approved legislation to provide Greece with billions in aid as part of an EU bailout plan. The official, speaking on condition of anonymity because the formal announcement was to be made later Monday, told The Associated Press the Cabinet approved the plan but gave no further details.
Germany's contribution was to be 8.4 billion euros ($11.14 billion) for the first year of the bailout. It now needs to pass both houses of Germany's parliament but the legislation is being fast-tracked to be done by Friday. (AP)
