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German parliament approves Greece bailout extension

The German parliament has approved a deal to extend Greece's financial bailout by four months.

A total of 542 MPs within the 631-seat chamber voted in favour of approving the extension.

German Chancellor Angela Merkel's party has overwhelmingly backed the extension of Greece's bailout despite dissension from within their ranks and in the German press. Credit: REUTERS/Hannibal Hanschke

The approval came after Finance Minister Wolfgang Schaeuble - a sceptic of Athens - promised Greece would not be allowed to "blackmail" its European partners.

The vote in the Bundestag was the only major hurdle for the four-month exension for the most heavily indebted country in the euro zone.