German govt could decide bailout next Friday: minister

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The German government could give its backing to a bailout for Greece on May 7 after it is approved by parliament, German Economy Minister Rainer Bruederle said on Friday, Lusa news agency reported.

"The German government will be able to act on Friday (May 7) after the parliament has given its authorisation," Bruederle was quoted as saying after meeting his Portuguese counterpart Jose Vieira da Silva in Lisbon.

Bruederle added: "We should discuss a lot and we should show that Europe knows how to act and how to make the right decisions."

Greece has asked the European Union and the International Monetary Fund for tens of billions of euros (dollars) in emergency loans to stave off a debt default and is now under heavy pressure to accept further austerity measures.

© 2010 AFP

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