Quantcast


Last updated: April 18. 2013 6:34AM - 295 Views
Associated Press



Story Tools:

Font Size:

Social Media:

(AP) The German Parliament has approved a 10 billion euros ($13 billion) rescue package for Cyprus by a wide margin.


Lawmakers voted 487-102 on Thursday in favor of the bailout deal hammered out last month. Thirteen abstained.


Cyprus will receive 10 billion euros in loans after its bloated banking sector threatened to destroy the economy.


Germany, Europe's biggest economy, insisted on those holding large deposits in Cyprus' biggest banks to contribute to the rescue. That position was shared by the German opposition.


All the rescue agreements involving euro countries need approval from the German Parliament.


Although some in Chancellor Angela Merkel's center-right coalition are uneasy about bailouts, the main opposition parties so far have supported them.


Associated Press
Comments
All user comments are subject to our Terms of Service. Users may flag inappropriate comments.
comments powered by Disqus



Featured Businesses


Poll



Info Minute



Gas Prices

Wilkes-Barre Gas Prices provided by GasBuddy.com