Bloomberg News

German Parliament to Meet to Vote on Spain Bailout, Bild Reports

June 26, 2012

The German parliament will probably hold a special meeting on July 6, its first extraordinary session on the debt crisis, to vote on Spain’s request for a bailout, the Bild Zeitung newspaper reported, citing unidentified coalition lawmakers.

Germany has to approve a so-called memorandum of understanding on Spain’s bailout petition, the newspaper said in a pre-release of an article to be published today. The parliament may meet again a week later to decide on Cyprus’s request for aid, the newspaper said.

Spain formally requested a bailout for its banks this week, and Cyprus also sought a financial lifeline from the euro area’s firewall funds, becoming the fourth and fifth of the currency union’s 17 member states to require external aid.

To contact the reporter on this story: Nadja Brandt in Los Angeles at nbrandt@bloomberg.net

To contact the editors responsible for this story: Andrea Snyder at asnyder5@bloomberg.net; Angela Cullen at acullen8@bloomberg.net


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