Merkel’s Bundestag Speech

"The successful bond-repurchase is an important contribution to the improvement in Greece's ability to service her debt. I am grateful to the Budget Committee for its decision yesterday to create the basis for the payment of the next part of aid for Greece". The above statements are of German Chancellor Ms. Angela Merkel, who just before the EU summit organized in Brussels on Thursday mark a note of optimism while speaking upon the German Bundestag.

She not only praised the deal for giving the European Central Bank some supervisory powers but also showcased her happiness for the debt reduction efforts in Greece. Hopes are higher to soon hear the news of approval of the payment of the next part of Greece's loan i. e. 34.4 billion Euros by the Eurozone finance minister once they consider Merkel's praise for Athens.

Moreover, the budget committee of the German Bundestag, the lower house of parliament, has also sanctioned the payment of the next tranche of fiscal aid to Greece on Wednesday in a Finance Ministry paper prepared for the budget committee meeting.

With the approval of the budget committee, German Finance Minister Mr. Wolfgang Schaeuble is expected to vote for the payment at tomorrow's Eurogroup meeting organized in Brussels.