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Merkel welcomes ruling, but insists: 'We will never back Eurobonds'

Angela Merkel welcomes the Constitutional Court’s decision – but says it does not mean the emergence of a closer fiscal union.

GERMANY’S CHANCELLOR Angela Merkel has welcomed this morning’s ruling of the country’s Constitutional Court, embracing it as an affirmation of her European policy – but has insisted that her country will not back the creation of so-called ‘Eurobonds’.

Speaking to the federal parliament this morning, Merkel said the ruling of the Constitutional Court – which threw out a complaint that participation in the first Greek bailout was illegal – was a clear indication that greater European co-operation was the right option.

The court this morning ruled that while the Greek bailout was not unconstitutional, the Bundestag will in future be required to give its approval for German participation in any emergency European funding operations.

“It makes it longer, and a bit more complicated, but it’s the right thing,” Merkel said.

In a speech which for lengthy periods focussed solely on attacking the socialist-led German opposition, Merkel said proponents of a Eurobond – a common bond, jointly backed by all members of the Euro – were not pursuing the best option for Europe as a whole.

While admitting that European governments would take longer to recover without a common Eurobond, Merkel said the eventual recovery would ensure that EU member states retained control over their own treasuries, and therefore lead to a stronger European Union as a whole.

The chancellor also addressed rumours that Greece could yet seek to withdraw from the Eurozone, saying that the treaties setting up the Euro and the bailout funds did not provide any way for countries to withdraw.

Merkel affirmed, however, that while the legislature had done its job in ensuring that Germany would emerge from the financial crisis in good shape, its task was now to make sure that Europe as a whole did likewise.

“We say we need more Europe, better Europe… there must be no taboos in forging new connections,” she said.

Read: Germany’s Constitutional court upholds participation in EU bailouts >

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6 Comments
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    Mute Hilary McDuffy
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    May 1st 2013, 1:55 PM

    This is the kinda s€umbag who needs to be removed from society And locked away for a very very long time,
    The world doesn’t need creeps like him.,

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    Mute Padraic Quinn
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    May 2nd 2013, 1:37 AM

    Death penalty would be appropriate here

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    Mute Tim O'Sullivan
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    May 1st 2013, 3:09 PM

    I met Dave Greene in a hostel in Perth in 2011
    He was a nice guy, no one deserves what happened to him
    Rip

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    Mute Catherine Crotty Brett
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    May 1st 2013, 1:22 PM

    What can be said about this article.

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    Mute Seán O' Sullivan
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    May 1st 2013, 2:02 PM

    ?

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    Mute Dexter Gordon
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    May 1st 2013, 5:02 PM

    Is that a rhetorical question?

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    Mute Conor Hickey
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    May 1st 2013, 7:41 PM

    We holt should be hanged.

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    Mute Conor Hickey
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    May 1st 2013, 7:41 PM

    Wenholt (autocorrect)

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    Mute Geraldine Kelly
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    May 1st 2013, 10:19 PM

    Isn’t it so sad, and such a waste.

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    Mute Keith Murray
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    May 1st 2013, 2:37 PM

    Luke sorry

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    Mute Keith Murray
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    May 1st 2013, 2:37 PM

    Pretty sure that’s like pictured??

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    Mute Keith Murray
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    May 1st 2013, 11:50 PM

    Why all the red thumbs I’m merely correcting the article as its wentholt pictured and not the victim as stated??ffs

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    Mute Tim O'Sullivan
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    May 2nd 2013, 12:38 AM

    Keith not sure where you got that idea that the picture is of Wentholt? but I can confirm that the picture used in the article is of the victim Dave Greene

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