By Simon Miller

The German Bundestag has overwhelmingly voted in favour for Greece's latest bailout package.

In a vote in parliament this afternoon (27.02.2012) German politicans voted 496 in favour of the €130bn (£110bn) rescue package with 90 against and five abstentions.

Speaking to the Bundestag, the German chancellor Angela Merkel warned that there was never a total guarantee of success for the bailout.

"The road that lies in front of Greece is long and truly not without risk. That also goes for the success of the new program - no one can give a 100pc guarantee of success," she said.

Merkel added: "The risks of turning away from Greece now are incalculable. No-one can assess what consequences would arise for the German economy, on Italy, Spain, the eurozone as a whole and finally for the whole world. I can't go in for adventure, my oath of office forbids it."

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