Germany's finance minister tells lawmakers there is no alternative to approving a rescue package for Greece and that it would be disastrous to risk a default, according to AP. Wolfgang Schaeuble told the lower house of parliament Friday that approval is needed to defend the euro. Schaeuble was speaking before a vote by the house, where Chancellor Angela Merkel's center-right government has a comfortable majority. The upper house, representing Germany's 16 states, is to vote later in the day. Schaeuble says «any other alternative would be much more expensive for the Germans, would be much more dangerous, would carry much bigger risks.» He says experts agree «it would be disastrous to risk ... a member of the European currency union, Greece, now becoming insolvent.»
