Germany approves bailout fund for South Cyprus

Germany’s parliament approved the 10 billion euro bailout fund from the Troika earlier yesterday.

602 deputies voted in parliament. 487 voted in favour with 102 against and 13 abstaining.

German finance Minister, Wolfgang Schaeuble gave a speech before the vote pointing out that without financial assistance, South Cyprus would be bankrupt and that this could affect the stability of the Eurozone.

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