German court ruling on ESM

Dollar Continues to Retrace Earlier Gains of 2012

September 12, 2012

Germany’s Federal Constitutional Court gave a conditional green light to the permanent EU bailout fund, the ESM, and to a new fiscal pact.  This ruling removes a major impediment to the Draghi plan.  The ESM will be functional October 8.  The court said Germany’s contribution to the ESM cannot exceed EUR 190 billion without getting […] More