Bundesrat passes 32-billion-euro stimulus package

Germany's upper house of parliament, the Bundesrat, has passed a 32-billion- euro economic stimulus package. The legislation was approved by the lower house, the Bundestag, on Thursday. German Chancellor Angela Merkel says the stimulus plan will help safeguard one million jobs and boost consumption and investment across the country. Meanwhile, the German central bank has issued its latest forecast, which predicts that Europe's biggest economy will shrink by 0.8 percent next year. The Bundesbank said prospects for the German economy have worsened significantly since the end of the summer. The German government's official forecast, released six weeks ago, predicts growth of 0.2 percent next year.