This site uses cookies. By continuing to browse the site you are agreeing to our use of cookies. Find out more here.
X
MM+Cover+small+181214

German parliament approves extension of EU bailout fund

  • Print
  • Comment

The German parliament has approved an extension of the EU’s main bailout fund.

Five-hundred and twenty-three deputies in the Bundestag approved the bill, while 85 voted against and three abstained in the 620-seat chamber.

The measure is now expected to pass in Germany’s upper house of parliament tomorrow. All 17 countries must approve plans to raise the bailout fund to £383m, with 10 approving so far.

Germany’s commitment to the European Financial Stability Facility will rise from 123bn euros to 211bn if all 17 approve.

Markets have been nervous this morning ahead of the vote. At 12.30, the FTSE 100 was down 0.63 per cent to stand at 5184.84, while the Dax and the French Cac 40 also saw marginal falls.

  • Print
  • Comment

Daily Email Updates
If you enjoyed this article, sign up to receive the latest news and analysis from Money Marketing.

The Money Marketing CPD Centre
Build your annual CPD - you can log and plan your CPD hours for free with The Money Marketing CPD Centre.

Money Marketing Awards 2015
Put your firm forward as the leading practitioner in your field. Adviser and Advertising categories are open to entries - Enter Now.

Have your sayEdit my profile/screen name

You must sign in to make a comment

AXA Wealth


Fund Data

Editor's Pick



Poll

Will providers be forced to pay out compensation over annuity misselling?

Job of the week

Latest jobs

View all jobs

Most recent comments

View more comments