Germany's cabinet backs Greek rescue

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The Independent Online

The German Chancellor, Angela Merkel, said her cabinet's backing of financial aid for Greece showed "not just that we are helping [the country] but also that we are stabilising the euro as a whole".

The government approved Germany's €22.4bn (£19.4bn) share of the bailout yesterday, despite public opposition to the move.

Ms Merkel said: "The reason for this law is last resort, an emergency situation, in that Greece in effect no longer had access to the financial markets, and there was an impact on the stability of the euro."

The law must be approved by the German parliament, the Bundestag, later this week.