Germany OK's Eurozone Rescue Deal

Lawmakers say yes to $1 trillion bailout
By Newser Editors and Wire Services
Posted May 21, 2010 9:07 AM CDT
German Chancellor Angela Merkel raises her hand after the final parliament debate of an euro750 billion (US $ 1 trillion) eurozone rescue package in Berlin, Friday, May 21, 2010.   (AP Photo/Markus Schreiber)

(Newser) – The German parliament has approved the country's share of the huge euro-zone rescue package. Europe's biggest economy will contribute between $154 billion and $185 billion in loan guarantees. Without Germany on board, the nearly $1 trillion plan could have failed and kept the euro on its relative freefall. The move is another step in trying to ease the financial turmoil roiling markets around the world.

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