German Court fuels European equities rally

The German Constitutional Court in Karlsruhe decided this morning that Berlin's European rescue packages are deemed legal. Any future bailouts however require approval by a parliamentary panel. The decision is a rare victory for Chancellor Angela Merkel which came under signficant pressure over the last weeks as the European debt crisis intensified and even own party members openly criticized the pro-European attitude of the Chancellor.

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http://www.nytimes.com/2011/09/08/world/europe/08germany.html