Germany moved Friday to shore up the euro and stabilize heavily indebted European nations, approving the country’s share of a nearly $1 trillion euro-region bailout.
The lower house of the German parliament voted 319 to 73 in favor of the package, which was put together two weeks ago. There were 195 abstentions. The upper house, the Bundesrat, was scheduled to pass the measure later Friday.
Under the plan, Germany is to lend as much as $184 billion to debt-ridden states in the euro zone to backstop the European currency and protect the nations from default. The package follows an earlier rescue for Greece.
Read it all.
Washington Post–German lawmakers approve euro rescue package
Germany moved Friday to shore up the euro and stabilize heavily indebted European nations, approving the country’s share of a nearly $1 trillion euro-region bailout.
The lower house of the German parliament voted 319 to 73 in favor of the package, which was put together two weeks ago. There were 195 abstentions. The upper house, the Bundesrat, was scheduled to pass the measure later Friday.
Under the plan, Germany is to lend as much as $184 billion to debt-ridden states in the euro zone to backstop the European currency and protect the nations from default. The package follows an earlier rescue for Greece.
Read it all.