Michael Grosse-Broemer

Germany's Bundestag lower house of parliament will not need to hold a full debate on paying out the next tranche of aid to Greece, the leader of Chancellor Angela Merkel's conservative group in parliament said on Tuesday.

By Ian Wishart

The European Union?s Economic Affairs Commissioner underscored the need for the EU to avoid Greece leaving the euro area after officials publicly raised the prospect of the debt-riddled nation exiting the currency bloc.

A senior member of parliament in Chancellor Angela Merkel's conservative Christian Democrats (CDU) said on Tuesday that a Greek exit from the eurozone would have to be accepted if the Athens government does not present a solid reform package.

By Michael Nienaber

BERLIN - Greek Prime Minister Alexis Tsipras's talks with Angela Merkel cleared the air between the countries and might contribute to finding a solution to Athens's financial problems, German officials said.

Eurogroup FinMins approved the loan extension that Greece has applied for, giving the country another four months breathing room in order to properly formulate a plan for the future.

The agreement was ratified by a teleconference call on Tuesday. It was first confirmed by Slovak FinMin Peter Kazimir on Twitter.