Wednesday, September 7, 2011

Ruling by the Federal Constitutional Court: euro rescue lawfully

Federal Constitutional Court rejects claims of Euro-skeptic

The Federal Constitutional Court has approved the aid Greece and EU rescue package. At the same time, however, the highest German court strengthened the participation rights of the Bundestag: Future grants are coupled with a requirement that the budget committee must approve every step.

There should be no automatism for payments, cancel out the rights of the deputies, the court ruled in Karlsruhe. The aid packages should be clearly defined and give parliamentarians the opportunity to control and to get out. The three constitutional complaints were thus largely unsuccessful.

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In the last year decided to see the rescue chief judge meets all necessary criteria. The Financial Stability Act are the scope and purpose of support and a manageable time period is specified. Condition was a consensual approval of the EU countries. So keep the federal government's sovereign decision-making power.

Improvements, however, the court calls for the involvement of Parliament in the rescue effort. It is not sufficient that the federal government decide the framework and then at the implementation stage only inform the Budget Committee. Rather, future assistance should be granted only if the committee had previously approved.

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