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European Stability Mechanism (ESM) - Back on Track Following German Court Decision

The newest EU Treaty, ratified by many member states already, had a hang up in Germnay as it awaited the approval or rejection of Germany's highest court.  Today the German court approved the treaty.

There is wide agreement among commentators that this treaty, combined with the European Central Bank's (ECB) new plan to buy suffering member states' bonds, is the final piece of the puzzle, transforming the EU from a confederation into a full-fledged federation.  The ECB will now reign supreme over all Eurozone member states.

http://www.nytimes.com/2012/09/13/world/europe/german-court-backs-euro-rescue-fund.html?pagewanted=all
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2 comments :

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