Greece Says Yes, but Germany's SPD Says No

The Greek parliament has approved the austerity measures the government agreed to and this saw the euro tick up. However, Market News International reports that the German SPD said that it will not vote for the Greek aid bill.

The parliamentary head of the SPD indicated that the government refused to agree to a financial transaction tax, which the SPD had indicated was their price of support. The SPD will urge its members to abstain in tomorrow's vote. As recently as earlier today the SPD was holding out the possibility of supporting the government.

Merkel's coalition has sufficient votes--this week--to pass the measures without the SPD. However, it had wanted what the American's call bipartisan support. Next week is a different matter. If the CDU/CSU lose the regional election (NRW May 9th), it will also lose its majority in the Bundesrat, the upper chamber of parliament.
Greece Says Yes, but Germany's SPD Says No Greece Says Yes, but Germany's SPD Says No Reviewed by Marc Chandler on May 06, 2010 Rating: 5
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