Garman Parliament approved expanded powers for the EU’s main bailout fund. The Parliament voted in favour of an enhanced 440 billion euro European Financial Stability Facility (EFSF). Many Germans are against committing more money to prop up struggling eurozone members such as Greece.
The approval by the Parliament means that it would allow the fund to buy bonds of distressed states and offer emergency loans to governments and offer emergency loans to governments. Earlier, Finnish parliament approved the proposed overhaul of the EFSF.
The EU bailout fund must win the approval of all euro-zone members.
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