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German Opponents Challenge Budget Pact, Euro Fund

Opponents of Europe’s new budget-discipline pact and the eurozone’s permanent rescue fund are asking Germany’s highest court to issue injunctions blocking the plans.

Maria Toutoudaki, Getty Images

Germany’s Parliament approved both the so-called fiscal compact — a cherished project of Chancellor Angela Merkel — and the euro500 billion ($623 billion) European Stability Mechanism by a wide majority Friday.

Various opponents applied Saturday to the Federal Constitutional Court for injunctions blocking the plans while judges consider whether they’re in line with German law. A decision could take a few weeks.

Plaintiffs include the hard-left opposition Left Party — the only party to oppose the plans in Parliament — and Peter Gauweiler, one of a few lawmakers in Merkel’s center-right coalition who has consistently rejected bailouts. He challenged previous rescue plans.

 

(Copyright 2012 by The Associated Press.  All Rights Reserved.)

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