BERLIN (Reuters) – At first glance, the big winners from Europe’s latest euro-saving summit were the leaders of Italy, Spain and France.
By banding together in a powerful coalition to challenge Germany, the high-stakes meeting seemed to show, Mario Monti, Mariano Rajoy and Francois Hollande were able to wring major crisis-fighting concessions from a suddenly soft Angela Merkel.
BERLIN, June 29 (Reuters) – Germany’s parliament will
finally approve a permanent euro zone bailout scheme and new
budget rules on Friday drawn up by Angela Merkel, but legal
hurdles remain and her overnight concessions to euro zone
partners Italy and Spain may make them harder to overcome.
A deal with the opposition should give the chancellor,
hurrying back from a tense European Union summit, the required
two-thirds majority in the Bundestag (lower house) and Bundesrat
(upper house) votes beginning at 5 p.m. (1500 GMT).
BERLIN (Reuters) – Germany’s parliament will finally approve on Friday the euro zone’s permanent bailout mechanism and new European budget rules drawn up by Chancellor Angela Merkel, but ratification of these tools for combating the debt crisis still faces legal hurdles.
Merkel will hurry back from a tense European Union summit for voting in the Bundestag (lower house) and Bundesrat (upper house) beginning at 5 p.m. (1500 GMT). A deal with the opposition will ensure she gets the two-thirds majority needed.
BERLIN/MADRID (Reuters) – On the eve of a crucial summit that could determine the future of the euro zone, German Chancellor Angela Merkel brushed aside increasingly shrill calls from Spain and Italy on Wednesday for emergency action to lower their soaring borrowing costs.
European Union leaders go into the two-day meeting beginning on Thursday evening more openly divided than at any time since a still-widening debt crisis erupted in early 2010 after Greece revealed its deficit and debt were far higher than reported.