Update: It’s official. The German parliament has passed the expansion of the bailout fund with a massive majority 523 yes to 85 against.After an early rally, European markets have now completely lost their gains.
Original post: The big event of the morning: The German government votes on expanding the EFSF, the big bailout fund that will be crucial for rescuing Greece.
It’s expected to pass easily, though the vote is controversial. The big question is whether or not the vote can be passed with Merkel’s coalition alone.
Merkel’s government has pushed hard for this.
It’s set to begin in a matter of minutes.
German speakers can watch the action LIVE here.
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