The German government agrees to contribute 22 Billion euros to help bailout Greece

The German cabinet has given the green light for some 22 billion euros in loans to the Greek government over three years. The measure will face a vote in both houses of parliament on Friday. Meanwhile, Chancellor Angela Merkel is trying to convince a sceptical German public that this is the right move, saying it would also help stabilize the euro. The complete rescue package for Greece totals some 110 Billion euros, and has already received the backing of Eurozone countries and the International Monetary Fund.