Merkel makes case for Greek bailout ahead of key parliamentary vote

German Chancellor Angela Merkel tries to shore up support for the bailout of Greece a few days before a key parliamentary vote that could see her allies defying the party line.

Speaking to public broadcaster ZDF, Merkel said International Monetary Fund Director Christine Lagarde had made it clear that she would recommend a bailout if conditions on pension reform and debt relief were to be met by Greece.

"I have no doubts that what Mrs. Lagarde said will become reality,"  Merkel said.

Stressing the need to address the Greek debt crisis now, Merkel said Germans could not afford to be in a situation where, two to three years down the road, things are worse off than today.

Merkel, whose popularity remains high after 10 years in office, made the pronouncements Sunday to win over lawmakers who are skeptical of the deal.

Among eurozone member states, Germany is the biggest contributor to the 86 billion-euro ($95.5 billion) bailout package.

Lawmakers want IMF involvement in the bailout because of its reputation for rigor.

But when they vote on the bailout package Wednesday, there will be no guarantee from the Washington-based institution. That is because Lagarde will not be giving her recommendation to the IMF board until October.

In July, parliament voted in favor of continuing bailout negotiations with Greece. But 60 lawmakers from Merkel's conservative bloc voted no. Five abstained. The bloc is composed of 311 lawmakers from her Christian Democratic Union and its Bavarian sister party, the Christian Social Union.

Although observers say the package will certainly be adopted by the 631-member Parliament Wednesday, opposition from more than 20% of the bloc would be seen as a blow to Merkel.

German newspaper Bild reported last weekend that 120 of Merkel's conservative deputies might not back the package.

Prior to that, Bild gave Merkel's government one of its worst press, saying in one headline "Merkel rescues Greece with our money," after last month's marathon sessions in Brussels that led to a preliminary deal with Greece.

Merkel's finance minister, Wolfgang Schäuble, gave Bild an interview Sunday, saying the deal was "responsible." He added they would make sure that Greece delivers on its promise to reform its VAT regime and state pension system. "After truly arduous negotiations, they understand now in Greece that the country cannot get around real and far-reaching reforms," said the popular minister.

Greece's three European creditors are the European Commission, the European Central Bank, and the euro bloc's bailout fund, the European Stability Mechanism. Along with the IMF, they will review Greece's progress in observing the terms of the deal every quarter, starting in October.

The first €26 billion of the new bailout package for Greece is set for release on Thursday. That's the same day the near-bankrupt country is scheduled to pay €3.2 billion in debt to the ECB.