Germany government approves to inject money into the market

About 476 members of parliament in Germany voted in support of the plan to inject 500 -billion euro ($673.8 billion) into the market as rescue package and 99 lawmakers voted against the plan.

The federal government has also agreed to bear 65% of the cost of losses, from the rescue package. Initially Germany planned to help banks on case by case but later approved to offer a rescue package.