German court holds euro zone fate in its hands
From reuters.com
Germany's Constitutional Court holds the fate of the euro in its hands when it rules next week on whether a crucial euro zone financial rescue fund can go ahead. A negative ruling, considered improbable by legal experts, would cast the 17-nation European single currency area into turmoil, spurring panic on bond markets by raising doubt over any more rescues of debt-laden southern states. But if, as expected, the court gives a green light on September 12 to the euro zone's permanent bailout mechanism and a pact on stricter budget discipline, it may add conditions that constrain Berlin's power to pursue further ...
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