Germans vote for fiscal pact

City A.M. Reporter
GERMANY’S upper house of parliament won multi-billion euro financial concessions from Chancellor Angela Merkel’s government yesterday, clearing the way for parliamentary approval of the permanent bailout scheme for the Eurozone and the fiscal pact.

Bavaria state premier Horst Seehofer and other state leaders told reporters outside the chancellery they had reached a deal. Earlier, Seehofer had threatened that the upper house would not vote for the fiscal pact.