Germany OK's Eurozone Rescue Deal

Lawmakers say yes to $1 trillion bailout
By Newser Editors and Wire Services
Posted May 21, 2010 9:07 AM CDT
Germany OK's Eurozone Rescue Deal
German Chancellor Angela Merkel raises her hand after the final parliament debate of an euro750 billion (US $ 1 trillion) eurozone rescue package in Berlin, Friday, May 21, 2010.   (AP Photo/Markus Schreiber)

The German parliament has approved the country's share of the huge euro-zone rescue package. Europe's biggest economy will contribute between $154 billion and $185 billion in loan guarantees. Without Germany on board, the nearly $1 trillion plan could have failed and kept the euro on its relative freefall. The move is another step in trying to ease the financial turmoil roiling markets around the world.

(More Germany stories.)

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