German parliament to vote on 8.5bn tranche to Greece

The German budget committee is expected to sanction the release of the 8.5bn euro tranche to Greece later Wednesday. The German Finance Minister, Wolfgang Schauble sent a letter calling on MPs of the coalition party to support the deal, which he dubbed a “good and realistic package” for Greece, according newspaper Handelsblatt. The newspaper reports that Mr. Schauble sent a letter to members of the Christian union (CDU and CSU), as well as the social democrats (SPD) that refers to the contribution of the IMF in a realistic and viable programme. However, the article says that a number of MPs are raising objections claiming the IMF has so far not committed itself to the new funding package. Hanedlsblatt writes that the participation of the IMF in the new Greek programme depends on the sustainability of the Greek debt, a matter that has not been settled yet.