Germany's lower house of parliament has overwhelmingly approved a ¤500 billion (US$675 billion) rescue package for the country's financial markets, AP reported. Lawmakers voted 476 in favor and 99 against the plan with one abstention. The plan was approved Monday by Chancellor Angela Merkel's Cabinet. It is widely expected pass the upper house, its final legislative hurdle, later Friday. The rescue package is part of a coordinated European bailout effort amid nervous, volatile markets. The sum is considered a maximum, and might not all be spent if the financial crisis eases.
