In Germany , lawmakers on Friday overwhelmingly backed a new bailout plan for Greece.

Following more than three hours of debate, German lawmakers voted 439-119 in favor of opening detailed discussions on the package.

The German Parliament's vote capped a week in which the proposed bailout agreed by the 19 eurozone leaders Monday, including Merkel and Greek Prime Minister Alexis Tsipras, has cleared a string of hurdles.

The developments have raised expectations that Greece will secure a financial lifeline to allow the country to get back toward some sort of economic normality.

Earlier, German Chancellor Angela Merkel urged lawmakers to vote in favor of a third bailout package for Greece.

She told a special session of Parliament in Berlin, the alternative to an agreement would not be a time-out from the euro that would be orderly but predictable chaos.

Third-party Ads