Germany approves expanded powers for euro debt facility–now on to the hard work

By a vote of 523 in favor and 85 opposed the Bundestag approved a measure to enable the European Financial Stability Facility to buy troubled government bonds and to offer precautionary credit lines to banks. It also increased Germany’s guarantees for the facility to 211 billion euros from 123 billion. Enough parliamentary members from Chancellor Angela Merkel’s collation voted in favor to give her a so-called “chancellor’s majority.”