German constitutional court passes ESM and fiscal pact by sticking to Germany's budgetary competence
Strasbourg, 12 September: Germany’s top constitutional court has ruled today that the European Stability Mechanism (ESM) and the fiscal compact can only be ratified with the condition that the German Parliament keeps the control. Any exceeding of Germany’s ESM contribution must be approved by both legislating bodies of Germany (“Bundestag” and “Bundesrat”).