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The first Christian Democrat rebel outed himself, joining 12 FDP deputies who pledged to vote against the ESM; 20 rebels are needed to defeat the legislation; spotlight is about to turn on German opposition parties, who have so far indicated their support (but this may change); the Greek government appointed international advisers for their programme on asset sales, as opposition to privatisation is mounting domestically; Gerald Braunberger argues that a Greek debt restructuring is necessary, as the country's debt is not sustainable; Wolfgang Münchau argues that there are a large hidden costs for the German taxpayer of a full debt restructuring, as the ECB will need to be recapitalised; Portugal's president attacks the lack of a European spirit among EU member states (without even a hint of self-criticism); the European Parliament voted in favour of a motion to instruct the European Commission to propose the outlines of a single eurozone bond; a study shows that Germany's financial services industry has no confidence in the eurozone rescue package; Christine Lagarde and Francois Baroin outline austerity measures to achieve the budget goal of a 3% deficit in 2013; Nicholas Sarkozy, meanwhile, is proposing a special bonus scheme for workers in companies that pay dividends to their shareholders.
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