Reuters: US Dollar Report: Germany gets deal enabling ESM, fiscal pact votes

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Germany gets deal enabling ESM, fiscal pact votes Jun 21st 2012, 09:46 BERLIN, June 21 | Thu Jun 21, 2012 5:46am EDT BERLIN, June 21 (Reuters) - Angela Merkel's government and the opposition reached an agreement on Thursday on economic growth measures for Europe that will allow Germany's parliament to approve the permanent bailout scheme for the euro zone and the fiscal pact next week. The parliamentary leader of Merkel's conservatives, Volker Kauder, said after talks with party leaders that the agreement was "a good sign for Europe", though he reiterated Germany's stance that there would be no mutualisation of European debt. The main opposition Social Democrats' (SPD) leader Sigmar Gabriel said they had also agreed to push for a financial transaction tax in the European Union, if necessary just among member states forming a "coalition of the willing". Merkel needs opposition support to get a two-thirds majority in parliament on June 29 to ratify the European Stability Mechanism (ESM) so that it can come into effect on July 1, along with her "fiscal compact" for budget discipline across Europe.

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