Merkel: Germany to give $29.6B to Greece in all

German Chancellor Angela Merkel briefs the media after a special cabinet meeting to provide Greece with billions in aid as part of an EU bailout plan at the chancellery in Berlin, Monday, May 3, 2010. (AP Photo/Markus Schreiber) (AP Photo/Markus Schreiber)

May 3, 2010 7:26:10 AM PDT
Chancellor Angela Merkel's Cabinet agreed Monday on a bill to give Greece euro22.4 billion ($29.6 billion) over three years as part of a wider bailout, as the German government realized that letting Greece go bankrupt could send the euro into a tailspin and hurt Germany's own economy.