Most German SPD Lawmakers to Back Greek Rescue, Welt Says

Sigmar Gabriel, the leader of Germany’s main opposition Social Democrats, said most of his party’s lawmakers will back Greece’s second bailout, Die Welt reported, citing an interview.

A Greek default would have incalculable consequences and reward speculators betting on Greece’s financial collapse, Gabriel was quoted as saying in the Berlin-based newspaper today.

Germany’s lower house of parliament, the Bundestag, is scheduled to vote tomorrow on the rescue package for Greece. Chancellor Angela Merkel’s coalition has 330 seats in the 620- member chamber.

To contact the reporter on this story: Tony Czuczka in Berlin at aczuczka@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net

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