Saudi Arabia offers condolences to Iran following deadly Bandar Abbas port explosion    Saudi Arabia welcomes Palestinian leadership reforms, appointment of Hussein Al-Sheikh    SFDA clears first 44-ton medical shipment for Hajj pilgrims    Over 13 million worshipers pray at Rawdah Sharif in a year    Ministry of Hajj issued over 150,000 Nusuk cards for the Hajj of 2025    Saudi Arabia deports 12,866 illegal residents in a week    Pope Francis laid to rest at historic funeral in Rome    Massive explosion at Iran's Shahid Rajaee Port injures over 500 people    Saudi orchestra to perform at Sydney Opera House in May    Al Hilal thrash Gwangju to reach AFC Champions League Elite semi-finals    Nammos Amala Resort to open soon with Saudi-Greek designs    Saudi Arabia completes 674 Vision 2030 initiatives, achieves 93% of KPIs as ninth-year milestone marked    GACA chief chairs 16th meeting of the Steering Committee on aviation's strategy    Alkhorayef praises advancements in Al-Kharj food industries sector    Saudi Theater Commission launches its Work and Learn Project in UK    The season has begun — and one comment shook us all    Saudi Arabia open to expanded 64-team World Cup in 2034, says sports minister    Jennifer Lopez dazzles in Jeddah with a Formula 1 performance    Average life expectancy in Saudi Arabia rises to78.8 years    Famed Philippine film star Nora Aunor dies at 71    Pakistani star's Bollywood return excites fans and riles far right    Veteran Bollywood actor Manoj Kumar dies at 87    Bollywood actress vindicated over boyfriend's death after media hounding    Grand Mufti rules against posting prayers and preaching in mosques on social media    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Germany's parliament begins key debate on euro bailouts
Published in Saudi Press Agency on 08 - 09 - 2011


The German parliament began Thursday an emotional
debate on boosting the scale of the eurozone's bailout mechanism,
with tensions showing inside Chancellor Angela Merkel's ruling
coalition, according to dpa.
Many conservative Germans fear that the European Financial
Stability Facility (EFSF) will weaken their savings and usher in
rampant inflation.
Some of Merkel's legislators say they will vote against the bill,
although main opposition parties support it.
Finance Minister Wolfgang Schaeuble told the first-reading debate
in the Bundestag house of parliament that the enlarged EFSF was vital
to stabilize the euro currency.
The bill is scheduled to face its final third vote in both
chambers of parliament on September 23.
Schaeuble defended the plan from accusations that it let deficit
spenders off the hook, saying it only gave them time to recover their
competitiveness.
"We cannot let them off finding a solution to their structural
problems," he said.
Conservatives charge that guarantees to other eurozone nations
undermine parliament's authority over German federal spending. To
cater to those objections, some predict the bill will be modified
before it passes into law, to allow more legislative oversight.
Earlier this week, straw polls showed 14 government legislators
may vote against the bill, but that is not enough to prevent its
passage.
Sigmar Gabriel, leader of the main opposition Social Democrats -
who are committed to the bill - accused Merkel of undermining both
the markets and other eurozone nations by her early reluctance to
join in bailouts.
"Why have you allowed the entirety of European and international
politicians and the financial markets to get exasperated and
suspicious about Germany's policy?" he said.


Clic here to read the story from its source.