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Several German lawmakers criticise euro bailout deal
Date 14/03/2011 14:38  Author webmaster  Hits 1168  Language Global

14 MAR 2011

• Some coalition members oppose bailout fund buying bonds
• Details to be discussed by euro zone ministers on Monday

By Andreas Rinke

BERLIN, March 13 (Reuters) - Several politicians from Germany's ruling coalition criticised Chancellor Angela Merkel's government on Sunday for compromises it made in a deal to strengthen the euro zone bailout fund.

Some threaten to vote against the deal, reached early on Saturday by leaders from countries that use the euro currency, when it is presented for approval in Germany's parliament.

While Foreign Minister Guido Westerwelle called the deal an acceptable compromise, a lawmaker from his own Free Democrat (FDP) party said it overstepped limits set by Germany's parliament and risked not being approved.

"The result contradicts the position of the FDP group in parliament; a majority in the Bundestag (lower house) is thus not secured," Frank Schaeffler told the website of business daily Handelsblatt.

The main bone of contention is changes agreed to let the bailout fund buy the bonds of distressed euro zone member states to make it more flexible and better able to stave off pressure in financial markets.

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