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Tuesday, July 6, 2010

Is the eurozone bailout legal? http://openeuropeblog.blogspot.com/2010/07/is-eurozone-bailout-legal.html

The study is all over the German press - and it certainly provides ammunition to the legal challenges against the bailout, currently making their way through the German Constitutional Court. The study claims that the public has been deceived on several points, arguing that the aid scheme will not be limited to three years, as the Commission claims, but would be “installed indefinitely”.“The public has been assured that the EU cannot borrow above a maximum of €60 billion. In the legal text no such regulation can be found," says the author of the study, Marcell Jeck.

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