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Merkel’s Court Win on Euro Rescue Resonates

German courts ruling seen as a big step in resolving the debt crisis.

By Tony Czuczka and Brian Parkin | Updated on September 13, 2012

German Chancellor Angela Merkel’s court victory on policy for saving the euro was hailed by southern Europe as well as her northern allies as German bailout critics failed to stop the joint currency’s permanent rescue fund.

With an extension of Greece’s bailout still undecided and Spain holding out on seeking a sovereign rescue, today’s German constitutional court verdict avoids worsening the debt crisis as it approaches its third anniversary. It also hands Merkel ammunition against domestic opponents who see German taxpayers’ money at risk in the name of a united Europe.

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