German Opposition Party Demands More Steps From Merkel

The Social Democrats (SPD), the opposition party in Germany, is ready to back German aid to Greece if Chancellor Angela Merkel commits to take action to rein in market speculators. Decision on €22 billion package by Germany is expected to be passed by the cabinet later today. Then it will be moved in both upper and lower houses on Friday.

Merkel does not need the Opposition party's backing to pass the bill but would prefer cross-party agreement. Opposition can delay the bill by asking for more committee hearings. SPD has demanded that Merkel spush for a European Transaction tax to control market speculators.