German parties voice approval for harsh terms of Cyprus bail out The harsh terms of the Cyprus bailout package, including haircuts for bank depositors, won praise in Berlin from both left and right, but leading parliamentarians insisted that they must study the details before giving it their approval. Norbert Barthle, the budget spokesman for Angela Merkel's Christian Democratic Union, the largest party in the ruling coalition, said the deal was a success for Wolfgang Schäuble, the German finance minister. "Germany has managed to have its concerns met, both in the interests of Europe and the German taxpayer," he told the DPA news agency. He also paid tribute to the Cyprus government for having accepted painful conditions. Mr Schäuble briefed the budget spokesmen of all the political parties on details of the deal on Saturday. "We have found a way to help Cyprus after long and hard negotiations, without putting the future of the country in hock," he said on his return from Brussels to Berlin after the all-night talks. He said the Bundestag would be asked to approve the full package in the second half of April. Peer Steinbrück, the Social Democrat candidate for chancellor in this year's election, said the party would decide its response on Monday having studied all the details. "Just going in the right direction is not enough on its own," he said. Cyprus must strengthen its revenue earning capacity, he said, suggesting that introduction of the proposed eurozone financial transaction tax - so far rejected by Nicosia - would be a good idea. Michael Fuchs, a deputy leader of the CDU in the Bundestag who has criticised previous bailout packages, said it was important that the International Monetary Fund should pay its one-third share of the €10bn. Germany has managed to have its concerns met, both in the interests of Europe and the German taxpayer Wolfgang Schäuble, the finance minister He said it was still "not going to be easy" to win a clear majority for the package in the Bundestag but "if all the details are as I have heard them, it should be enough." Rainer Brüderle, parliamentary leader of the liberal Free Democratic party - junior partners in Ms Merkel's centre-right coalition - said he wanted more details of the package before deciding on whether to back it. But Carsten Schneider, budget spokesman for the SPD, said it went some way to meet his party's demands. "It was one SPD demand that bank depositors should share the costs of rehabilitation," he said. The SPD had called for the banks to participate in any rescue. "It is important for us that tax rates should be raised and black money flows stopped," he added. The only party in the Bundestag to reject the package outright is the far-left Linke party, which said it required too many antisocial spending cuts from the Cyprus government, and did not force the banks themselves to pay enough of the cost of the bailout.