Friday, 14 September 2012 06:56
'As expected, the Court caved. On September 12, headlines reported it. The Financial Times said “German politicians declared the road clear for the creation of the eurozone’s (500 billion euro) rescue fund after the country’s constitutional court rejected a petition to block it.”At issue is does it matter? More on that below.Two Eurozone rescue schemes exist. The European Financial Stability Facility (EFSF) is running out of funds. Germany’s High Court approved the European Stability Mechanism (ESM).'
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