The German parliament voted an overwhelming "Yes" to start formal negotiations on a third Greek bailout on Friday.

A total of 439 lawmakers voted in favor of the talks, 119 opposed and 40 abstained, giving the German government a green light to negotiate with Greece on its third bailout within five years, a process expected to last for weeks.

The vote followed an over-three-hour debate where German Chancellor Angela Merkel told lawmakers that it was not only a decision on Greece, but also decision on a strong Europe.

The chancellor said the third bailout was the only possible option to save Greece and European solidarity. Without a deal, chaos and violence would be resulted.