German Lawmakers Approve Greece's Bailout Extension
German lawmakers have approved a four-month extension of Greece's €240 billion ($269 billion) bailout program, according to media reports Friday. The vote in the Bundestag was 542 in favor of the extension, 32 against and 13 abstaining. The vote comes after eurozone finance ministers earlier this week approved Greece's list of proposed economic reforms that was required for the extension. Greece's Athex Composite was down 4% ahead of the results of the vote by German lawmakers. The euro traded at $1.1225, compared with $1.1199 late Thursday in New York.
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