Canadian-guerilla
29th September 2011, 04:58 AM
Germany approves expansion of European bailout fund
September 29, 2011
Berlin (CNN) -- Germany's parliament voted Thursday to increase the powers of Europe's bailout fund, as Greece's debt woes fuel fears of a wider financial crisis.
The vote passed by a large majority -- 523 in favor to 85 against, with three abstentions -- which should boost confidence in European markets.
Expansion of the European Financial Stability Facility -- Europe's bailout fund -- so it can increase its lending capacity from around €250 billion to €440 billion must be ratified by a number of European countries.
more . . .
http://edition.cnn.com/2011/09/29/world/europe/germany-europe-bailout/
German parliament votes to ignore the people
Well, so much for democratic accountability. Who cares what the people think when the most precious political project of the generation is at stake?
Germany's parliament has voted overwhemingly to give more powers to the European Financial Stability Facility (EFSF) so that yet more German taxpayers' money can be poured into the bottomless pit of Greek debt. In the face of huge public resentment, Germany's political class has decided to put "saving the euro" above all other considerations. Its obligation to its own national electorate has been deemed inconsequential in this hopeless last-ditch attempt to salvage an unworkable system
more . . .
http://blogs.telegraph.co.uk/news/janetdaley/100108130/german-parliament-votes-to-ignore-the-people/
September 29, 2011
Berlin (CNN) -- Germany's parliament voted Thursday to increase the powers of Europe's bailout fund, as Greece's debt woes fuel fears of a wider financial crisis.
The vote passed by a large majority -- 523 in favor to 85 against, with three abstentions -- which should boost confidence in European markets.
Expansion of the European Financial Stability Facility -- Europe's bailout fund -- so it can increase its lending capacity from around €250 billion to €440 billion must be ratified by a number of European countries.
more . . .
http://edition.cnn.com/2011/09/29/world/europe/germany-europe-bailout/
German parliament votes to ignore the people
Well, so much for democratic accountability. Who cares what the people think when the most precious political project of the generation is at stake?
Germany's parliament has voted overwhemingly to give more powers to the European Financial Stability Facility (EFSF) so that yet more German taxpayers' money can be poured into the bottomless pit of Greek debt. In the face of huge public resentment, Germany's political class has decided to put "saving the euro" above all other considerations. Its obligation to its own national electorate has been deemed inconsequential in this hopeless last-ditch attempt to salvage an unworkable system
more . . .
http://blogs.telegraph.co.uk/news/janetdaley/100108130/german-parliament-votes-to-ignore-the-people/