The German parliament has given approval to one of the largest government bailout packages in history (17.10.2008) je 18

The upper and lower houses of parliament here in Germany have given their approval to one of the largest government bailout packages in history. Chancellor Angela Merkel unveiled the plan to shore up the country's banks on Monday as part of a concerted effort by governments around the world to stabilize markets. It includes 400 Bbillion euros in loan guarantees, up to 80 Bbillion to re-capitalize banks, and a further 20 Bbillion to cover potential losses from loans.