Germany slashes size of company rescue fund

11 Jul, 2010

Germany has reduced the size of its rescue fund for struggling companies to 60 billion euros from 115 billion euros because the economic crisis has proven less damaging than anticipated, a magazine reported on Saturday. Weekly Der Spiegel said the 60 billion euros ($76 billion) in loans and guarantees available until the end of the year would suffice to cover any remaining applications for aid. The Economy Ministry was not immediately available for comment.

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