July 3, 2012 / 12:31 PM / 6 years ago

Dutch Senate approves euro zone's ESM rescue fund

AMSTERDAM, July 3 (Reuters) - The Dutch Senate approved on Tuesday the introduction of the euro zone’s permanent bailout fund with a two-thirds majority.

In a vote that went largely as expected, 50 members of the 75-seat Senate voted in favour of the European Stability Mechanism. The Dutch Lower House approved it with a two-thirds majority last month.

Dutch Finance Minister Jan Kees de Jager said before the vote that if a new ratification process was needed to allow direct capitalisation of banks by the ESM, it would be voted on by both houses of parliament.

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