miércoles, 7 de septiembre de 2011


Germany's highest court ruled on Wednesday that a panel of the German Parliament must approve the country's participation in any significant actions to be undertaken by the European Financial Stabilization Fund (EFSF). Compared to what might have been, that's a relief: the Court could have required any decisions to be approved by a vote of the Parliament. In situations like financial crises, in which rapid action is indispensable, the requirement of a parliamentary vote would have been a killer. 

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