Economy/Business News Alert: German Parliament approves rescue package for Spanish banks

Thursday, July 19, 2012

   
The Washington PostThursday, July 19, 2012 12:48:23 PM
ECONOMY/BUSINESS NEWS ALERT

German Parliament approves rescue package for Spanish banks


The German Parliament has approved by a large majority a rescue package worth up to $122 billion for Spain's struggling banks.

Lawmakers voted 473-97 Thursday to support the bank bailout, with 13 abstentions.

Germany's Parliament has to endorse all decisions to use money from the euro zone's rescue fund. The country is Europe's biggest economy and the biggest single contributor to the bailout fund.


Read more at:
http://www.washingtonpost.com/world/europe/german-parliament-meets-in-special-session-to-vote-on-spanish-bank-rescue-package/2012/07/19/gJQAR5M8uW_story.html



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