Brian Parkin,Rebecca Christie & Birgit Jennen
Germany outlined its terms for parliament to approve any aid deal for Greece, including a demand that Greek lawmakers take the first step by passing economic policy changes.
Time is too short for a “normal parliamentary procedure” in Germany in the “last days” before Greece’s aid program expires on June 30, the Finance Ministry said in a document prepared for euro-area officials. While German lawmakers can invoke a fast-track procedure, that is likely to depend on the “quality and persuasive power” of an agreement with Greece, according to the document obtained by Bloomberg.
It’s indispensable that the Greek parliament give “early approval” to a staff-level agreement including prior actions, or reform commitments, “before approval of other European parliaments,” according to the document dated Monday. Also needed is an “explicit application” by Greece for extending aid and proof of debt sustainability, the ministry said.
Parliamentary votes required in several countries may complicate months of efforts to break the impasse on Greece’s financing. Lower-house lawmakers in Berlin, who need to sign off on any aid deal between Greece and its creditors, begin their last one-week session before the summer recess on June 29.
