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German court approves eurozone bail-out fund

Germany Brandenburg Gate Berlin 480

The German constitutional court has given its assent for the €500bn European Stability Mechanism to go ahead, after throwing out a last minute attempt to block the eurozone bail-out fund.

Reports have suggested the bailout fund would leave Germany with unlimited liability and would not be subject to democratic control.

Judges from Germany’s top court have imposed certain conditions on the bail-out, however, stipulating that German exposure not exceed €190bn.

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