"Am I therefore become your enemy,because I TELL YOU THE TRUTH...?"
(Galatians 4:16)

Friday, May 21, 2010

German lawmakers approve euro rescue package...

BERLIN-German lawmakers on Friday approved their country's share of the massive rescue deal to save the euro and contain the debt crisis, as EU finance ministers gathered in Brussels to create new budget rules to win back financial markets' confidence.The lower house of parliament voted 319-73 with 195 abstentions in favor of the plan - sending it to the upper house, which represents Germany's 16 states and where Chancellor Angela Merkel's center-right government currently controls a majority, for a decision later in the day.The euro750 billion (nearly $1 trillion) package was drawn up two weeks ago. Germany, Europe's biggest economy, is to contribute between euro123 billion and euro147.6 billion in loan guarantees. It comes hard on the heels of a separate package to rescue Greece - which was already unpopular with Germans....

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