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German parliament approves extension of EU bailout fund

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.



Keep out the poachers

Helen Dallimore, employment associate at law firm Foot Anstey, details how companies can ensure they do not lose clients when staff leave

Pink relaunches its mortgage club

Pink Home Loans has relaunched its mortgage club, which is called The Pink Club. Pink has today launched a new website for DAs and will relaunch its mortgage desk and a new protection and general insurance panel over the coming weeks. It promises to offer intermediaries 24-hour payment of proc fees, access to a range […]


Labour blog: What about the ICB report?

Thursday: 14:30: The LibDems I spoke to at conference – and indeed their elected representatives like Vince and Nick – are proud of the Independent Commission on Banking.  The ring-fence and capital surcharge seemed like a popular, left-of-centre response to the financial crisis, one that might find a great deal of vocal support from the […]

Annuity Income Data

The Retirement Strategy data pages are designed to offer a wide ranging view of the current annuity rates being offered from providers including impaired, flexible and asset-backed annuity options. The pages also put current rates into historical context, offer the latest annuity best-buy tables and give a general overview of the type of products each provider currently offers.

Nobody expects the Spanish Inquisition

Paul Fidell, Head of Business Development (Investments), writes about one of the primary challenges for those involved in estate planning. He looks at dealing with investment uncertainty in these low growth, low inflation but still volatile investment conditions. Protection of capital, to leave something for beneficiaries, is a fundamental objective of many people’s plans for […]


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