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Open Europe

Open Europe responds to German Constitutional Court ruling

(PresseBox) (London, )
Open Europe has today responded to the German Constitutional Court ruling against the claims that the eurozone bailouts are illegal. As expected, the Court ruled that the eurozone bailouts are compatible with German Basic Law, since, according to the Court, they do not provide an excessive burden on the German budget, do not constitute a significant transfer of power away from the Bundestag nor impact negatively on the euro's purchasing power, as had been suggested by the claimants. However, the Court also gave the Bundestag's Budget Committee an effective veto over future activation of the eurozone's bailout fund, the EFSF,
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