German parliament approves empowering Merkel

German Chancellor Angela Merkel has called for public understanding for her country's efforts to help reduce the debt burden of troubled eurozone nations.

Addressing the Parliament on Wednesday, Merkel gave a grim assessment of Europe's credit crisis.

She said the world is watching Europe and Germany to see if the region is able to overcome what she called Europe's most serious crisis since the end of World War Two.

The Parliament then passed by a majority a bill that will give her a mandate to negotiate to boost the bailout fund, the European Financial Stability Facility.

The plan was unveiled at a meeting of European Union leaders last Sunday.

The move comes as the German public remains opposed to bailing out debt-ridden eurozone nations such as Greece, using German taxpayers' money.

The Germany government is obliged to seek parliamentary approval to provide assistance to the bailout fund.

As a result, the German government will need to win parliamentary approval again once member nations of the eurozone agree to enlarge the bailout fund at a meeting later on Wednesday.

Thursday, October 27, 2011 00:30 +0900 (JST)