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German parliament passes expanded bailout fund
German lawmakers on Thursday approved an expansion of the euro-area rescue fund’s
firepower, freeing the way for European officials to focus on what next steps may be
needed to stem the debt crisis. Consequently, the size of the European Financial Stability
Fund (EFSF) stands enhanced to €440bn (US$593bn) from €250bn earlier. The lower
house of the German parliament passed the measure with 523 votes in favour and 85
against, granting the fund powers to buy bonds in secondary markets, enabling bank
recapitalisations and offering precautionary credit lines. It raises Germany’s guarantees to
€211bn (US$287bn) from €123bn. The measure will be put to the upper house of the
parliament on Friday, where it is expected to be passed.
India Equity Research Reports, IPO and Stock News
Visit http://indiaer.blogspot.com/ for complete details �� ��
German parliament passes expanded bailout fund
German lawmakers on Thursday approved an expansion of the euro-area rescue fund’s
firepower, freeing the way for European officials to focus on what next steps may be
needed to stem the debt crisis. Consequently, the size of the European Financial Stability
Fund (EFSF) stands enhanced to €440bn (US$593bn) from €250bn earlier. The lower
house of the German parliament passed the measure with 523 votes in favour and 85
against, granting the fund powers to buy bonds in secondary markets, enabling bank
recapitalisations and offering precautionary credit lines. It raises Germany’s guarantees to
€211bn (US$287bn) from €123bn. The measure will be put to the upper house of the
parliament on Friday, where it is expected to be passed.
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