Germany Gives the Thumbs Up to Bailout Fund Expansion

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Triumphant in victory. Photo: John Macdougal/AFP/Getty Images

The country more than doubled its contribution to the fund, which will be used to help troubled economies like Italy and Greece. The vote represents a political victory for prime minister Angela Merkel, who was able to get the vote passed without reaching out to members of the opposition party, as had seemed likely in the days leading up to the vote. Oh, and maybe it will help out the troubled global economy, too, as long as the rest of the Eurozone countries get on board. Greece happens to still be richer than than Slovakia, despite its recent troubles, and so Slovakia might just make things tough for Greece until someone finally pays attention to it.

Germany Approves Expansion of Euro Bailout Fund [NYT]