Bloomberg News

German Parliament’s Upper House Approves ESM and Fiscal Pact

June 29, 2012

Germany’s upper house of parliament, the Bundesrat, approved the future euro region financial backstop, the European Stability Mechanism, and the fiscal pact aimed at imposing budget discipline on European Union states. The vote today in Berlin came after the lower house of parliament, the Bundestag, approved the measures earlier today.

To contact the reporter on this story: Patrick Donahue in Berlin at pdonahue1@bloomberg.net

To contact the editor responsible for this story: Leon Mangasarian at lmangasarian@bloomberg.net


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