REUTERS: Germany’s parliament resoundingly approved the euro zone’s permanent bailout scheme and new budget rules on Friday, but legal hurdles remain and Chancellor Angela Merkel’s concessions to euro zone partners Italy and Spain may make those harder to overcome.
The outcome of the vote was never seriously in doubt after opposition parties agreed to back the budget rules, or “fiscal compact”, in return for growth and job creation measures. Merkel needed their support to get a required two-thirds majority…
Merkel had returned for the debates and the vote from a European Union summit in Brussels that agreed to give the euro zone’s bailout funds more flexibility to stabilise bond markets and to directly recapitalise banks in the future… (more)
EDITOR: Another band-aid that will not solve the euro problem but will postpone a crisis for years? Months? Weeks? Or days?
