Arab Today, arab today german parliament approves euro crisisfighting tools
Last Updated : GMT 06:55:28
Arab Today, arab today
Arab Today, arab today

German parliament approves euro crisis-fighting tools

Arab Today, arab today

Arab Today, arab today German parliament approves euro crisis-fighting tools

Berlin - AFP

The German parliament overwhelmingly approved two euro-crisis fighting tools Friday rallying to a call by Chancellor Angela Merkel to show the world Germany\'s commitment to the single currency. Hard on the heels of a \"breakthrough\" EU summit, Merkel dashed back from Brussels to address lawmakers before the Bundestag lower house and Bundesrat upper chamber voted by a two-thirds majority to back new budget rules and a permanent bailout fund. \"What we decide today is an important step to make clear to the world that we stand by the euro, we want it as our stable currency,\" Merkel said earlier in her second speech to parliament on the euro crisis in three days. As they have done since the start of the eurozone debt crisis, members of the two main opposition parties backed Merkel who needed their support since the fiscal pact entails changes to the German constitution and thus required a two-thirds majority of lawmakers in both chambers. Merkel also defended decisions by EU leaders which included agreeing the EU\'s new European Stability Mechanism (ESM) fund could recapitalise banks directly and that the bailout funds can buy up bonds of ailing nations. She said any use of the bailout funds would follow agreed guidelines, calling it a \"good decision, a sensible decision\" and stressed any changes or new functions would have to come before the parliament first. German Finance Minister Wolfgang Schaeuble said Merkel had \"defended and imposed exactly what had been German government policy for years\", namely firm conditions in exchange for aid. \"Today, with the adoption of the fiscal and ESM treaty in the Bundestag and Bundesrat, across party lines, Germany is sending an important sign,\" Merkel said before the votes. \"It is a sign of unity and determination, domestically and abroad, a sign of overcoming the European debt crisis, sustainably, and a sign that, for us, Europe means our future,\" she added. Late on Friday, in the Bundesrat representing Germany\'s 16 regional states, 65, out of the 69 who voted, approved both the fiscal pact and ESM. Weeks of horse-trading with the centre-left Social Democratic Party (SPD) and ecologist Greens meant Merkel could be quietly confident of parliament\'s approval, but the EU deal struck earlier rattled some lawmakers. SPD budgetary affairs expert Carsten Schneider, earlier on the micro-blogging site Twitter, accused the government of a \"U-turn\" with regard to the ESM decisions in Brussels. To obtain enough votes, Merkel had to give some ground on SPD and Green party demands for growth measures, and secured support of regional leaders with measures to offset the impact on regional finances of new demands for budgetary rigour, among other things. SPD chief Sigmar Gabriel said during the parliamentary debate ahead of the votes: \"We are agreeing because Europe is more important to us than the party political profile.\" The fiscal pact, of which Merkel was the main architect, has been signed by 25 of the EU\'s 27 members and enshrines stricter budgetary rules aiming to prevent excessive public deficits that touched off the eurozone turmoil. The 500-billion-euro ($623 billion) ESM is due to take over from the European Financial Stability Facility and cannot be established without Germany\'s backing. The fund was originally to begin operations on July 1 but is now widely expected to be pushed back. Germany is also facing a delay after President Joachim Gauck agreed to a request by the constitutional court to refrain from signing off on the two laws immediately after their parliamentary approval. The court said that it would need up to three weeks to examine a legal challenge by the far-left Linke party. Germany\'s top court has a history of strengthening the role of the parliament on European issues. The Bundestag will likely be called on to vote on aid for Spain and Cyprus in the coming weeks.

arabstoday
arabstoday

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 approves euro crisisfighting tools Arab Today, arab today german parliament approves euro crisisfighting tools

 



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 approves euro crisisfighting tools Arab Today, arab today german parliament approves euro crisisfighting tools

 



Arab Today, arab today
Arab Today, arab today Youssra depended on colored foam

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today A no-frills business success

GMT 07:00 2017 Wednesday ,20 September

A no-frills business success
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Israel sees benefits in independent Kurdistan

GMT 07:58 2017 Wednesday ,20 September

Israel sees benefits in independent Kurdistan
Arab Today, arab today Saudi Arabia to unblock internet calling apps

GMT 11:31 2017 Wednesday ,20 September

Saudi Arabia to unblock internet calling apps
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Ministry seeks to improve education

GMT 14:49 2017 Sunday ,17 September

Ministry seeks to improve education
Arab Today, arab today New Zealand opposition looks

GMT 10:35 2017 Thursday ,14 September

New Zealand opposition looks
Arab Today, arab today Puerto Rico, Virgin Islands brace

GMT 12:01 2017 Wednesday ,20 September

Puerto Rico, Virgin Islands brace
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Intel chips loaded in Waymo

GMT 14:43 2017 Wednesday ,20 September

Intel chips loaded in Waymo
Arab Today, arab today Five trends at the Frankfurt auto show

GMT 12:04 2017 Monday ,18 September

Five trends at the Frankfurt auto show
Arab Today, arab today Horia Farghaly happy for success of “Case G”

GMT 12:14 2017 Monday ,18 September

Horia Farghaly happy for success of “Case G”
Arab Today, arab today France hopeful of persuading Trump

GMT 06:21 2017 Wednesday ,20 September

France hopeful of persuading Trump

GMT 06:31 2017 Saturday ,16 September

Eman Al Assy receives three offers

GMT 05:05 2017 Tuesday ,12 September

Pregnant woman's suicide roils China

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha

GMT 19:18 2017 Monday ,18 September

5,000 'Dieselgate' deaths in Europe per year

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 04:26 2017 Wednesday ,20 September

Opioid overdose deaths take 2.5 months

GMT 11:40 2017 Monday ,18 September

Russia and Iraq restore air travel

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 12:56 2017 Friday ,15 September

Apple's grand plan in Ireland held up by a forest

GMT 11:37 2017 Saturday ,12 August

Fashion designer reveals her new collection
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