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18 Apr 2013
Bundestag gives the green light to the Cypriot bailout
FXstreet.com (Barcelona) - The German parliament has approved the rescue package for Cyprus today, with a clear majority voting in favor. German Finance Minister Wolfgang Schäuble assured that the aid will prevent the crisis from spreading to other countries.
The bailout, which amounts to 10 billion euros, received 487 votes in favor and 102 against, with only 13 abstentions out of the 602 participating deputies.
German Finance Minister Wolfgang Schäuble told the lawmakers in the Bundestag that the rescue package for Cyprus eliminates the risk of contagion to other peripheral countries, which would surely take place in case of the island's default.
The bailout, which amounts to 10 billion euros, received 487 votes in favor and 102 against, with only 13 abstentions out of the 602 participating deputies.
German Finance Minister Wolfgang Schäuble told the lawmakers in the Bundestag that the rescue package for Cyprus eliminates the risk of contagion to other peripheral countries, which would surely take place in case of the island's default.