Germany to vote Wednesday on rescue fund boost

The German parliament is to vote on Wednesday on proposals to boost the EU's bailout fund, sources close to conservative CDU and CSU parties said on Monday. Initially, proposed enhancements to the European Financial Stability Facility (EFSF) would have only needed the approval of the parliament's budgetary committee. But now the the entire lower house of parliament or the Bundestag will vote on the changes before Chancellor Angela Merkel leaves for a crunch EU summit in Brussels on Wednesday, the sources said. Last month, Germany's constitutional court upheld bailouts for debt-wracked eurozone nations but insisted parliament have a bigger say. In the wake of that ruling, the opposition Green party demanded last week that all 620 parliamentary deputies vote on any proposed enhancements to the EFSF and not just the 42-member budgetary committee.