Germany’s lower house approves euro aid package

BERLIN, May 21 (BestGrowthStock) – Germany’s lower house of
parliament on Friday approved a law allowing Europe’s biggest
economy to contribute to a 750 billion euro emergency debt
package to help protect the euro.

The Bundestag lower house passed the bill with 319 votes in
favour, 73 against and 195 abstentions. The Bundesrat upper
house is expected to pass the bill later on Friday.

Germany could contribute up to 148 billion euros in
guarantees to the package of 750 billion euros of loans and
guarantees which is also backed by the International Monetary
Fund (IMF).

The vote comes just two weeks after parliament passed a bill
allowing Germany to contribute up to 22.4 billion euros to a 110
billion euro rescue plan for Greece agreed by euro zone members
and the IMF.

Stock Basics

(Writing by Madeline Chambers)

Germany’s lower house approves euro aid package