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German opponents challenge budget pact, euro fund

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German opponents challenge budget pact, euro fund
Submitted by Fox First at Ten on June 30th

BERLIN (AP) - 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.
Germany's Parliament approved both the so-called fiscal compact - a cherished project of Chancellor Angela Merkel - and the €500 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 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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