German upper house agrees on deal to back ESM
Another step ratification for the permanent bailout agreement as Bavaria state premier Horst Seehofer and other state leaders said they have reached a deal.
Seehofer, who is also the leader of the Christian Social Union (CSU) that is a sister party to Merkel’s Christian Democrats (CDU), had said the states and communities needed assurances of more federal funding first, especially for services for the handicapped. The states wanted federal financial support worth 12 to 13 billion euros per year for handicapped care.
