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Germans demand referendum on European finances

On Wednesday, the German constitutional court is to give its verdict on the European fiscal pact and crucially on the European stability mechanism, the ESM. Are they compatible with German law or does Germany need to revise its constitution to allow transfer of more power to Brussels? More and more voices are calling for a referendum so that Germans can decide for themselves. This would be the first time a referendum has been held since the 3rd Reich - and a potentially very risky move.

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