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.
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