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Image header Agence Europe
Europe Daily Bulletin No. 11041
ECONOMY - FINANCE - BUSINESS / (ae) eurozone

German constitutional court gives thumbs up to ESM

Brussels, 18/03/2014 (Agence Europe) - On Tuesday 18 March, the German constitutional court in Karlsruhe recognised the legality of the eurozone's permanent bailout fund, the European stability mechanism (ESM).

The Karlsruhe court ruled that the fund, with its €500 billion fire power, does not violate the Bundestag's prerogatives over budgetary affairs because the lower chamber of the German parliament scrutinises the use of the ESM.

German Finance Minister Wolfgang Schäuble welcomed...

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