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Today Germany’s Lower House of Parliament approved a controversial 38 billion dollar bailout loan to Greece. The bailout is deeply unpopular among Germans, but today’s vote brings the European Union one step closer to providing a massive rescue package to Greece before the May 19th deadline. The World’s Gerry Hadden reports.

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MARCO WERMAN:  So the uncertainty continues in Britain over who will lead the country and the uncertainty continues in Europe over the effects of the Greek debt crisis.  But a 140 billion dollar rescue package for Greece is coming along.  A big boost came today when Parliaments in various Eurozone countries voted to support the measure. The World Gerry Hadden has more.

GERRY HADDEN:  Italy’s Parliament has approved its share of the Greek bailout.  So has France’s.  And this afternoon, Germany followed.  That was German Parliament Vice President Otto Solm announcing the bailout’s passage.  With it, the Greek rescue now appears to be on track for its mid-May deadline.  Chancellor Angela Merkel has been arguing for days prior to the vote that coming to Greece’s economic aid was the only way to safeguard the Euro against doubting investors.  Today Merkel said Germany is protecting the currency in the interest of its citizens but she added that the rescue can only be effective in combination with the ambitious austerity plan, approved by the Greek Parliament yesterday.  That plan includes deep cuts to public workers’ salaries and to pensions as the Greek Parliament was approving the package yesterday, thousands of Greeks continued their protests outside.  Occasional violence marred the demonstrations just a day after three people died when a bank was firebombed.  Greek unions and workers say their Parliament may have approved the sweeping cuts, but they can’t accept them.  This woman said that nothing good will come from the austerity package.  Things are probably going to get worse, she said.  People just can’t take it anymore.  Fears that Greece’s harsh cuts in spending will spark widespread social unrest have helped keep stock markets on the slide in recent days.  Investors also feel a knock on effect in other European countries with rising debts and falling revenues.  Chancellor Merkel went to Brussels today for an EU summit to finalize details of the bailout.  She’s insisting that the EU tighten its monetary rules and supervision to protect against another Greek-like spiral in the Eurozone.  Such calls aren’t just aimed at calming investors, but at calming votes too.  Germany holds an important regional election on Sunday.  If Merkel’s center-right coalition loses, Merkel herself will lose some political capital.  Meanwhile protestors in Athens say they’ll keep up the demonstrations until the austerity package is repealed.  For The World, I’m Gerry Hadden.

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