Arab Today, arab today german parliament backs cyprus bailout
Last Updated : GMT 13:12:40
Arab Today, arab today
Arab Today, arab today

German parliament backs Cyprus bailout

Arab Today, arab today

Arab Today, arab today German parliament backs Cyprus bailout

Berlin - FNA

Germany\'s lower house of parliament voted overwhelmingly on Thursday to grant Cyprus a 10 billion euro bailout that is designed to avert bankruptcy for the tiny Mediterranean island nation and keep it in the euro zone.Of the 602 lawmakers in the Bundestag chamber, 487 backed the rescue, under which Cyprus has agreed to impose major losses on depositors, shutter its second largest bank and raise its corporate tax rate, Reuters reported.Separately, German parliamentarians also backed seven-year loan extensions for bailout victims Portugal and Ireland.The Cyprus vote was not in doubt given widespread support from within German Chancellor Angela Merkel\'s center-right coalition and backing by many opposition lawmakers from the Social Democrats and Greens.However surprise news on Wednesday that the fractious Cypriot parliament is also likely to vote on the deal stoked new uncertainty over the fate of the rescue.Before the vote, German Finance Minister Wolfgang Schaeuble warned lawmakers that a failure to offer Cyprus aid would unleash contagion across the 17-nation single currency bloc.He said that if Cyprus were allowed to go bankrupt, there was a \"significant risk\" of contagion to Greece and other vulnerable euro zone member states.Responding to Schaeuble, the leader of the center-left Social Democrats in parliament Frank-Walter Steinmeier said his party would support the bailout, but attacked the government for initially backing a plan to hit small savers in Cypriot banks.That proposal was scrapped after a major backlash and the new bailout only hits people with deposits over 100,000 euros.\"Mr Schaeuble, whether you asked for this or simply joined others in supporting it, it was a huge mistake. It stoked fear and insecurity in Europe,\" said Steinmeier.

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today german parliament backs cyprus bailout Arab Today, arab today german parliament backs cyprus bailout

 



Arab Today, arab today
Arab Today, arab today Hats, scarves add beauty to women

GMT 19:10 2017 Friday ,17 February

Hats, scarves add beauty to women
Arab Today, arab today Tourist guide reveals methods of tourist attractions

GMT 17:46 2017 Saturday ,18 February

Tourist guide reveals methods of tourist attractions
Arab Today, arab today To release new antiques collection

GMT 20:33 2017 Friday ,17 February

To release new antiques collection
Arab Today, arab today Air raid kills eight women, child

GMT 06:42 2017 Friday ,17 February

Air raid kills eight women, child
Arab Today, arab today Murder of 2 reporters in Dominican Republic

GMT 22:45 2017 Thursday ,16 February

Murder of 2 reporters in Dominican Republic

GMT 20:02 2017 Saturday ,18 February

Gold edges higher as global equities lose momentum

GMT 10:20 2017 Thursday ,16 February

New Zealand's Spark rings up interim profit rise

GMT 05:40 2017 Thursday ,16 February

Stocks rise on Yellen’s positive US outlook

GMT 05:34 2017 Thursday ,16 February

‘Protectionism, populism threaten euro zone’

GMT 04:51 2017 Thursday ,16 February

Oil pulls back after brief rally
View News in Arabic - Business: نفط وبتروكيماويات
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Kidogo provides childcare for underserved

GMT 20:24 2017 Wednesday ,15 February

Kidogo provides childcare for underserved
Arab Today, arab today Tragic fluctuations of Bakhtiari's life revealed

GMT 06:50 2017 Wednesday ,15 February

Tragic fluctuations of Bakhtiari's life revealed
Arab Today, arab today London to tax old cars

GMT 14:06 2017 Friday ,17 February

London to tax old cars
Arab Today, arab today Pluto's unruly moons

GMT 06:31 2015 Thursday ,04 June

Pluto's unruly moons
Arab Today, arab today Competes Sweden and Germans by S90

GMT 22:36 2017 Thursday ,16 February

Competes Sweden and Germans by S90
Arab Today, arab today Porsche reveals new 2018 Panamera

GMT 17:31 2017 Wednesday ,15 February

Porsche reveals new 2018 Panamera
Arab Today, arab today Actress Nadeen Al Rassi views art as her entity

GMT 07:30 2017 Saturday ,18 February

Actress Nadeen Al Rassi views art as her entity
Arab Today, arab today Teach monkeys to recognize themselves in mirror

GMT 20:41 2017 Wednesday ,15 February

Teach monkeys to recognize themselves in mirror

GMT 07:05 2017 Friday ,17 February

Singer Diana Karzon will issue a new album soon

GMT 06:40 2017 Friday ,10 February

MP calls for removing text from Islamic story

GMT 13:16 2017 Tuesday ,14 February

First fashion model with Down syndrome

GMT 10:26 2017 Tuesday ,14 February

Emergency UN meeting in Harare

GMT 14:04 2017 Tuesday ,14 February

"Lagom" new Swedish concept in interior design

GMT 12:07 2017 Thursday ,16 February

Bite-mimicking malaria vaccine

GMT 09:03 2017 Thursday ,16 February

Tour guide praises women’s beaches

GMT 13:12 2015 Saturday ,09 May

Sheikh Sultan opens Sharjah Centre

GMT 21:42 2017 Sunday ,12 February

Rania al-Ghazali designs candles of bubbles
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday