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U.S. markets recover from steep losses
BERLIN, May 21 (UPI) -- The German parliament approved the country's contribution to the European euro rescue effort, part of a $957 billion international plan.
The Bundestag approved Germany's share of the program, a $184 billion tranche, with a vote of 319 to 73. The upper house, the Bundesrat, passed the measure later in the day, The Washington Post reported Friday.
The measure revealed a fragmented Parliament working against Chancellor Angela Merkel's Free Democrats coalition. In the lower house, there were more abstentions -- 195 -- than there were no votes.
Abstentions and no votes together would have made the vote 319 to 268.
Green party members, who approved of German's contribution to help Greece last month, abstained from Friday's vote. Socialist Democrats also abstained. The Left Party opposed the measure, The New York Times reported.
Merkel and Finance Minister Wolfgang Schaeuble argued the fund was critical to shoring up the euro, which has dropped 15 percent in value against the U.S. dollar this year on fears governments, such as Greece, could default.
"Almost two thirds of exports go to members of the euro zone. Without the euro, we would have a much weaker economy, a much weaker Germany and a much weaker social security system," Schaeuble said.
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Indonesia needs to address loopholes in its moratorium on deforestation, Greenpeace said.
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A new special operations tactical vehicle has been unveiled by three U.S. companies.
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First-time buyers are driving the expectations that a recovery has begun. Their numbers and market share are growing despite financing roadblocks and competition with investors for entry-level homes. ...
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It is a whole new ball of wax in Europe these days.
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