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Bundestag approves Spanish bailout with large majority

The German Parliament on Thursday (19 July) approved a bailout for the Spanish banking sector of up to €100 billion, despite criticism that Berlin is funding a "bottomless pit."

Members of the German Bundestag summoned back from holidays for a special session approved - by 473 votes in favour, 97 against and 13 abstentions - a demand by finance minister Wolfgang Schauble to approve Germany's contribution of up to €29 billion to the Spanish bank bailout.

Schauble said Madrid was c...

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