Germany's constitutional court ruled on Wednesday that the country's contributions to a European Union bailout fund for Greece were constitutional. A group of professors, along with a Christian Social Union parliamentarian, Peter Gauweiler, had brought the case to the constitutional court.
In May 2010, parliament approved Germany's contribution to an emergency aid fund for Greece as part of a eurozone bailout package. Wednesday's decision found that this did not violate parliament's right to control spending of taxpayer money.
However, the court did say parliament's budget committee must have a bigger say in any future bailouts.
More information to follow soon.
Author: Matt Zuvela (AP, DPA)
Editor: Nancy Isenson
Someone somewhere, is hitting the BUY button using exponential lots. That spike there that was immediately corrected is the exact 38.2% correction of yesterday's spike. Some say 4150 held as resistance, I say limits at 4150 were triggered. No reason to exit my longs yet. (though would have offloaded some if I had witnessed the spike...
SL moved to 4050.
In May 2010, parliament approved Germany's contribution to an emergency aid fund for Greece as part of a eurozone bailout package. Wednesday's decision found that this did not violate parliament's right to control spending of taxpayer money.
However, the court did say parliament's budget committee must have a bigger say in any future bailouts.
More information to follow soon.
Author: Matt Zuvela (AP, DPA)
Editor: Nancy Isenson
Someone somewhere, is hitting the BUY button using exponential lots. That spike there that was immediately corrected is the exact 38.2% correction of yesterday's spike. Some say 4150 held as resistance, I say limits at 4150 were triggered. No reason to exit my longs yet. (though would have offloaded some if I had witnessed the spike...
SL moved to 4050.
Don't just beat the markets, leave bruises.
