European Salon de News, Discussion et Klatsch - 20 June | 97 comments (97 topical, editorial, 0 hidden)

BBC News - Top German court tightens rules for bailout decisions

Germany's top court has ruled that its parliament was not given a proper say in Chancellor Angela Merkel's decisions on EU bailouts and budgetary rules.
The Constitutional Court found MPs had not been involved early enough when the permanent EU bailout fund was set up.
Mrs Merkel drove through her plan for tighter eurozone budget rules without informing MPs sufficiently, it added.
A BBC correspondent says the German chancellor may now find it harder to respond quickly to the euro crisis.

Any idiot can face a crisis - it's day to day living that wears you out.

by ceebs (ceebs (at) eurotrib (dot) com) on Tue Jun 19th, 2012 at 02:40:47 PM EST
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Re: Economy and Finance (none / 0)

Germany set to allow eurozone bailout fund to buy troubled countries' debt | Business | guardian.co.uk

Angela Merkel is poised to allow the eurozone's €750bn (£605bn) bailout fund to buy up the bonds of crisis-hit governments in a desperate effort to drive down borrowing costs for Spain and Italy and prevent the single currency from imploding.
Germany has long opposed allowing the eurozone's rescue fund, the European Financial Stability Facility, to lend directly to troubled eurozone countries, fearing that Berlin would end up paying the bill, and the beneficiaries would escape the strict conditions imposed on Greece, Portugal and Ireland.
But Merkel has come under intense pressure as financial markets have pushed up borrowing costs for Spain to levels that many analysts see as unsustainable.

Any idiot can face a crisis - it's day to day living that wears you out.

by ceebs (ceebs (at) eurotrib (dot) com) on Tue Jun 19th, 2012 at 02:42:01 PM EST
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European Salon de News, Discussion et Klatsch - 20 June | 97 comments (97 topical, 0 editorial, 0 hidden)