Monday, February 27, 2012

Germany's Bundestag votes for Greek Bailout

by Bill McBride on 2/27/2012 02:03:00 PM

Yesterday I listed some key events in Europe this week and over the next couple of months (list repeated below). The German Bundestag voted overwhelmingly today for the Greek Bailout.

From the WSJ: German Lawmakers Endorse Greek Bailout

Of 591 valid votes cast in the Bundestag, or lower house of Parliament, 496 lawmakers were in favor of the bailout, while 90 were against. Five lawmakers abstained.

Chancellor Angela Merkel now has a mandate from Parliament to give her approval of the €130 billion ($174.8 bililon) aid package at a meeting of European Union leaders in Brussels this week.
Feb 27th: Germany's Bundestag votes on Greek Bailout deal (done).
Feb 29th: ECB three year Long Term Refinancing Operation (LTRO)
Feb 29th: Finland lawmakers vote on Greek Bailout deal.

March 1st and 2nd: EU leaders meet in Brussels.
March 8th: €200bn private sector bond swap is scheduled. From the Financial Times Alphaville: A special invitation from the Hellenic Republic ... "The invitation will expire at 9:00 P.M. (C.E.T.) on 8 March 2012, unless extended, re-opened, amended or terminated ..."
March 8th: ECB holds rate meeting
March 12th: Euro-area finance ministers meet in Brussels
March 20th: €14.4bn of Greek bonds scheduled to mature.
March 30th: Euro-area finance ministers meet in Copenhagen.

Late April: Proposed date for Greek general election.
April 22nd: France election.

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