Greece moves forward

Published 10:15 am Friday, July 17, 2015

BERLIN — The bailout of Greece took two big strides forward Friday as German lawmakers overwhelmingly gave their backing to another financial rescue and the European Union confirmed it would get Athens enough money to avoid an imminent debt default.

The twin developments capped a week in which the proposed bailout agreed by the 19 eurozone leaders Monday has cleared a string of hurdles.

As a result, expectations have risen that Greece will secure a three-year financial bailout which will allow it to get back toward some sort of economic normality following weeks of crisis that’s seen banks shuttered and withdrawals at ATMs limited to a paltry 60 euros a day.

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The first big development Friday was the news that German lawmakers, following more than three hours of debate, voted 439-119 in favor of opening detailed discussions on the bailout package, after Chancellor Angela Merkel warned that the cash-strapped country would face chaos without a deal.