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A record of 37,000 plaintiffs have challenged the bailout fund in the German constitutional court (Photo: jgieseking)

Bundestag powers over bailout fund key to German court approval

Germany's top court on Wednesday (12 September) will rule on whether the upcoming eurozone bailout fund (ESM) and a treaty on fiscal discipline comply with the German constitution.

A No is unlikely, but extra safeguards for the Bundestag are to be expected.

A record of 37,000 plaintiffs have teamed up against the European Stability Mechanism, a €500-billion-strong fund which had been due to come into force in July but was postponed pending the German Constitutional Court ruling. ...

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