Chancellor Angela Merkel won her “own majority” for the bill, narrowly averting the collapse of her government, but only after pledging that there was no grand plan committing Germany to vast and unlimited liabilities.
Horst Seehofer, leader of Bavaria’s Social Christians CSU, said his party would go “this far, and no further”, insisting any expansion of the rescue machinery was out of the question. “The financial markets are beginning to ask whether Germans can afford all this help. We must not risk the creditworthiness of the German state,” he said.
Norbert Lammert, the Bundestag’s president, said lawmakers felt they had been “bounced” into backing far-reaching demands and warned that Germany’s legislature would not give up its fiscal sovereignty to any EU body.
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German bailout vote is 'too little, too late'
Chancellor Angela Merkel won her “own majority” for the bill, narrowly averting the collapse of her government, but only after pledging that there was no grand plan committing Germany to vast and unlimited liabilities.
Horst Seehofer, leader of Bavaria’s Social Christians CSU, said his party would go “this far, and no further”, insisting any expansion of the rescue machinery was out of the question. “The financial markets are beginning to ask whether Germans can afford all this help. We must not risk the creditworthiness of the German state,” he said.
Norbert Lammert, the Bundestag’s president, said lawmakers felt they had been “bounced” into backing far-reaching demands and warned that Germany’s legislature would not give up its fiscal sovereignty to any EU body.
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