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German MPs back Merkel on euro zone rescue fund

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German MPs back Merkel on euro zone rescue fund


It was a crucial parliamentary vote for Europe and it went Angela Merkel’s way.
With a large majority, the German Chancellor won the Bundestag’s support on boosting the euro zone’s bailout fund  Some 503 out of 596 votes backed the measure.
The result gave Merkel a strong mandate to negotiate at tonight’s emergency EU summit.
The vote was needed after a German Constitutional Court ruling last month demanded a greater say for Germany’s parliament on bailout issues.
The proposals to increase the efficiency of the 440 billion euro European Financial Stability Facility without pouring more taxpayers’ money in have triggered fierce debate in Germany – Europe’s largest economy and biggest contributor to the EFSF.

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