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Merkel Puts Rescue Fund to German Vote

From bloomberg.com

German lawmakers are set to back a planned increase in the European rescue fund’s capacity, removing one hurdle in the path of Chancellor Angela Merkel as she prepares for a summit on tackling the euro-area debt crisis. Merkel is due to address lower-house lawmakers on the crisis at about noon in Berlin today before the government puts plans to bulk up the 440 billion-euro ($612 billion) backstop to a vote. The coalition ensured cross-party support after persuading the main opposition Social Democrats and Greens to sign up to a motion that includes a cap on German guarantees. “This greatly strengthens the negotiating ... (full story)

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