Germany Approves EU Bailout Fund

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German Chancellor Angela Merkel (C) smiles surrounded by MPs holding their ballots on September 29, 2011 at the Lower House of German Parliament in Berlin.
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German Chancellor Angela Merkel scored a major political victory on Thursday as the Parliament voted to expand the European Union's bailout fund. While the measure passed, the divisive vote had threatened Merkel's control over her own governing collation. The legislation increases Germany's share of guarantees from €123 billion to €211 billion. Six out of 17 euro zone nations still need to pass the agreement. Analysts are skeptical, saying the fund is too small to help seriously indebted European countries.

Louise Story, Wall Street and finance reporter for The New York Times, reports on the latest.