German court warns ruling no blank cheque for bailouts
Originally posted by 5corpio
Germany's top court has handed its country's parliament a greater say over eurozone bailouts, potentially hampering Berlin's ability to act decisively against a two-year debt crisis.

The Constitutional Court rejected on Wednesday a series of lawsuits aimed at blocking the participation of Europe's biggest economy in emergency loan packages. However, it said the government must seek the approval of parliament's budget committee before granting such aid.

"This was a very tight decision. But it should not be mistakenly interpreted as a constitutional blank cheque authorising further rescue measures," the presiding judge Andreas Vosskuhle told plaintiffs, government officials and members of parliament in the courtroom in Karlsruhe. In a rushed vote, Germany's parliament agreed to join in the May 2010 bailout of Greece to keep it from defaulting on its debts, and to back the €440bn European Financial Stability Facility with....Read more on this story---> German court warns ruling no blank cheque for bailouts - Telegraph