Court Rejects Challenges to German Euro Bailouts.

[elleng]

In a widely followed ruling on Wednesday, Germany’s Constitutional Court upheld the legality of Berlin’s rescue packages for debt-stricken euro zone countries, but said any future bailouts must be approved by a parliamentary panel.

The decision was viewed by some analysts as a rare triumph for Chancellor Angela Merkel and seemed to place fewer restrictions than some had expected on her ability to react to the European debt crisis. At the same time, the high public standing of the court should lend broader legitimacy to government efforts to shore up the European currency.

But, other analysts said, the ruling could hamper Mrs. Merkel’s power to take quick measures.

The court’s president, Andreas Vosskuhle, said the ruling did not represent a “blank check for additional rescue packages.”

http://www.nytimes.com/2011/09/08/world/europe/08germany.html?_r=1&hp