Germany Backs Bigger Bailout Fund

After a dramatic plea from Chancellor Angela Merkel, Germany's Parliament passed a measure to back an expansion of the European bailout fund, only hours before she travels to Brussels for an EU summit. Calling it “irresponsible” not to deal with the mushrooming debt crisis, Merkel said, “The world is looking to Germany, whether we are strong enough to accept responsibility for the biggest crisis since World War II.” Germany is the EU’s biggest economy, and any rescue plan will most likely need the seal of approval from the German Parliament to succeed. European leaders are under increasing pressure to find a solution to their financial situation at Wednesday’s summit.