German Parliament to vote on Spanish bank rescue - 13 WTHR Indianapolis

German Parliament to vote on Spanish bank rescue

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BERLIN -

Germany's Parliament is interrupting its summer break to vote on a rescue package worth up to $122 billion for Spain's ailing banks.

Chancellor Angela Merkel has said she's optimistic of securing a broad majority for the bailout at Thursday's special session.  

Germany's Parliament has to endorse all decisions to use money from the fund.

Deputy Finance Minister Steffen Kampeter told ARD television that helping Spain's banks - which have been hit hard by a burst real-estate bubble - is "above all in the interest of Europe's financial market stability and so also in the interest of jobs in Germany."

Germany, Europe's biggest economy, contributes more than others to the bailout fund.

(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)

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