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Business

German court upholds eurozone rescue fund complaint

Text by News Wires

Latest update : 2012-06-19

Germany's highest court has upheld a Green party complaint that German parliament had not been informed early enough about the details of the eurozone rescue fund, the European Security Mechanism, strengthening national parliamentary rights.

AP - Germany’s highest court has strengthened Parliament’s rights in the European financial crisis, ruling that the government failed to inform lawmakers early enough about details of the eurozone’s planned permanent rescue fund.

The Federal Constitutional Court on Tuesday upheld a complaint by the opposition Green party, which said Parliament was not informed early enough about the details of the European Security Mechanism. Party leaders say they obtained details from their sister party in Austria.

The decision has no bearing on the future of the ESM itself, on which Parliament is expected to vote next week. But the court made clear that in future Parliament must be in a position to have “early and effective influence” on government decisions.

The ruling is the latest of several which have strengthened Parliamentary rights.

Date created : 2012-06-19

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