Sighs of relief as German court approves bailout fund

Markets and EU politicians breathed sighs of relief as Germany's top court rejected challenges brought against the eurozone's upcoming bailout fund, expected to launch in October. Any increase in Berlin's contribution will need parliamentary approval, however.

"This is a good day for Europe and a good day for the euro," European Parliament chief Martin Schulz said as the common currency hiked to a four-month high against the US dollar and European shares climbed on the ruling pronounced...