Germany approves euro assistance package of more than €120bn

BERLIN  — The German parliament has approved the country's share of the huge euro-zone rescue package.
The lower house of parliament voted 319-73 with 195 abstentions in favor of the plan. Representatives of Germany's 16 states raised no objections in the upper house later Friday — meaning that the chamber passed the bill.
It now goes to President Horst Koehler for his signature — expected to be a formality.
The €750 billion (nearly $1 trillion) package was drawn up two weeks ago.
Germany, Europe's biggest economy, will contribute between €123 billion and €147.6 billion in loan guarantees. It comes soon after a separate package to rescue Greece — which was already unpopular, given that Germans dislike the idea of paying for others' financial missteps.