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Merkel’s Cabinet Backs Rescue Measures

Support suggests lawmakers will approve changes to European rescue fund.

By Brian Parkin, Rainer Buergin, Bloomberg | Updated on August 31, 2011

German Chancellor Angela Merkel’s Cabinet ratified expanded measures to combat the euro-area debt crisis as she quells a rebellion among coalition lawmakers that threatened to derail the package.

Senior members of Merkel’s Christian Democrats including finance and economy spokesman, Michael Meister, and floor leader Volker Kauder said this week they are now confident of securing a coalition majority for the proposed changes to the European rescue fund. Merkel yesterday pledged to consult lawmakers as much as they felt necessary to dispel lingering doubts.

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