The major European indices are closing the day higher after Germany passed their fiscal reform measures:
- German DAX, +1.03%
- France's CAC, +0.5%
- UK's FTSE 100, +0.29%
- Spain's Ibex, +1.58%
- Italy's FTSE MIB, +1.31%.
The German Bundestag has passed CDU/CSU’s fiscal reform, with 513 votes in favor and 207 against. The package now moves to the Bundesrat for ratification on Friday, where it is expected to pass.
