Source Pravda.Ru

German Government Approves $1 Trillion Emergency Package to Stabilize Euro Economy

The German government says it has approved the country's contribution to the $1 trillion emergency rescue package to stabilize the euro currency.

A government official said Tuesday that Germany is expected to contribute at least $157 billion to the debt rescue measures, Voice of America informs.

The 16-nation single currency, which surged above $1.30 early on Monday, slipped below $1.27 as traders weighed debt worries and a perceived blow to the European Central Bank's independence in its weekend policy reversal to start buying euro zone government bonds.

The emergency plan -- the biggest since G20 leaders threw money at the global economy following the collapse of Lehman Brothers in 2008 -- wowed markets with its sheer size and sparked a spectacular rally in world stocks and the euro, Reuters reports.

Comments
Careful with Iceland!!
Russians start protesting against retirement age law
Russia sends assault ships to counter US aircraft carriers in the Mediterranean Sea
US-led coalition strikes Assad's army in Syria
US-led coalition strikes Assad's army in Syria
Russia demands USA should destroy chemical weapons and declassify Novichok files
Russia demands USA should destroy chemical weapons and declassify Novichok files
Russia demands USA should destroy chemical weapons and declassify Novichok files
Russia demands USA should destroy chemical weapons and declassify Novichok files
Should Russia return to G8?
Russia demands USA should destroy chemical weapons and declassify Novichok files
Russia demands USA should destroy chemical weapons and declassify Novichok files
Russia demands USA should destroy chemical weapons and declassify Novichok files
Russia demands USA should destroy chemical weapons and declassify Novichok files
Russia demands USA should destroy chemical weapons and declassify Novichok files
US-led coalition strikes Assad's army in Syria
The ways of return in the twentieth century
Russia to cover Cuba with power plants net
Russia spends over $11 billion on 2018 World Cup
Russians start protesting against retirement age law
Russia sends assault ships to counter US aircraft carriers in the Mediterranean Sea