Photo: flickr user: smitty42
Germany just announced that a parliamentary vote on the European Financial Stability Facility will be delayed by a week.The vote, scheduled to take place on September 23, sought approval for the Greek bailout agreed upon in Brussels last month.
Since the agreement was announced last month, German voters and legislators have raised their voices against Chancellor Angela Merkel and her administration. Challenges from within her party threaten to undermine her coalition.
According to a EurActiv report, 23 members of the centre-right coalition are set to vote against the bailout, many from within Merkel’s own Christian Democratic Union. They seek more — rather than less — control over eurozone funds and currency.
“It makes little sense to have the participation of every single parliament out of 17 in the euro zone,” said Gerhard Schick of the German Greens. “We need structures that can act. But I fear that the number of CDU and FDP parliamentarians who are rightly upset about their limited participation in bailout decisions is rising.”
EU and IMF leaders have repeatedly called for the expedited passage of the bailout agreement set forward on July 21. A delay in Germany will work against that goal, and could put Greece’s fragile economy at risk.