Germany's powerful finance minister, Wolfgang Schaeuble, told MPs it would be "irresponsible" not to approve a third bailout for debt-mired Greece in a vote Wednesday.

"There is no guarantee that all of this will work and there can always be doubts," he told the Bundestag lower house as debate began on the latest 86 billion euro ($95 billion) rescue plan.

"But considering the fact that the Greek parliament already approved most of the (stipulated reform) measures, it would be irresponsible not to seize this chance for a new beginning in Greece."