(MENAFN) Germany's parliament has approved a USD51 billion financial aid to debt-ridden Greece to avoid bankruptcy, reported Xinhua News.
The move is compliant with a deal inked last week by euro zone finance ministers and the International Monetary Fund (IMF).
Finance Minister, Wolfgang Schaeuble, warned that if Athens goes bankrupt, then this would have catastrophic consequences on the future of the euro region as a whole.
473 German lawmakers voted to pass the bill, 100 rejected it and 11 declined to vote.
Those who opposed the bill said that the latest rescue package would shift the burden of rising Greek debts to German taxpayers, with German media claiming the plan to reduce Greece's debt burden would result in around USD950 million loss of revenue for Germany in 2013.
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