German Cabinet takes up bailout

BERLIN (AP) - German Chancellor Angela Merkel's Cabinet is taking up legislation to provide Greece with billions of euros in aid as part of a European Union bailout plan.

Merkel says she is fast-tracking the legislation with the goal of having it passed by Germany's parliament by Friday.

Germany, the euro zone's largest economy, will be the largest contributor of loans and had insisted that Greece commit to new austerity measures before it committed to them.

The Cabinet on Monday is to discuss Germany's contribution of euro8.4 billion ($11.14 billion) for the first year of the bailout.

European governments and the International Monetary Fund agreed Sunday to euro110 billion in loans to Greece over three years.