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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: 2MAR$ who wrote (94461)	9/12/2012 4:52:28 AM
From: TobagoJack	Respond to of 218621

Gold up 10 w/i minutes of sad news Am expecting follow-on gold drubbing, as usual, per common follow-on All hail German constitution court Germany's Constitutional Court has given the go-ahead for the eurozone's contentious new bailout fund to be signed into law. The introduction of the European Stability Mechanism was delayed by numerous legal challenges. The Constitutional Court in Karlsruhe approved the legality of Germany's contribution to the long-anticipated European bailout fund on Wednesday. The ruling paves the way for President Joachim Gauck to sign the legislation into law - a move tipped as a possible turning point in the eurozone debt crisis. Due to come operation in July, the European Stability Mechanism (ESM) will provide the eurozone with the flexibility to deploy 500 billion euros ($630 billion) in emergency funds to support its weakest members. As the strongest economy in Europe, Germany will be the main contributor to the fund. The German parliament had approved both measures with a two-thirds majority back in June, but President Gauck was forced to delay formally ratifying the law following over 37,000 high-profile objections. Key among opponents was Peter Gauweiler, a eurosceptic backbench lawmaker in Chancellor Merkel's conservative bloc. He had argued that the ESM and the European fiscal violated Germany's constitution, warning it would result in Berlin no longer having complete control over budgetary decisions. A last-minute legal challenge from Gauweiler was rejected by the Karlsruhe court on Tuesday.