Nevertheless, the decision marked a victory for Europe's financial rescue plan in a region desperately trying to contain a debt crisis that has rocked global markets for nearly three years. The much-anticipated ruling had loomed large over the continent, reminding observers of the legal and political challenges to rapid crisis management in a currency union made of 17 distinct nations, each requiring ratification of action plans through their own peculiar and often arcane rules.
A judgment against German aid for its neighbors could have thrust Europe into a far more dangerous stage, upending years of diplomatic teeth pulling to establish the fund. It could additionally have thrown a wrench into plans announced last week by the European Central Bank to
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Source:
http://www.ezonearticle.com/2012/09/12/german-court-rules-in-favor-of-bailout-fund-with-conditions/
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