German parliament approves bail-out fund

German parliament has approved a bail-out fund to bail out debt ridden European economies. The fund was passed with huge majority in spite of deep protest by some other coalition parties. This fund will help struggling euro zone members such as Greece to avoid any default.

Most of German citizens and parties were against spending German fund to bail out Greece during the struggling time as they feel it would not be advisable to do so at this turbulent time. But German Chancellor Merkel wanted to help Greece to for the sake of whole euro zone economy. Germany, being the biggest euro zone economy is more capable of providing the necessary bail-out fund to the euro zone debt ridden countries. After this parliamentary approval, It will be easier for Germany to do so.