FXstreet.com (Barcelona) - Following the decision of the German Constitutional Court to give the go-ahead to the European Stability Mechanism bailout fund on Wednesday, Eurogroup head Jean-Claude Juncker announced that it would come into force by 1 January 2013 at the earliest, as it needs to be ratified first by at least 12 Eurozone countries.
The President of the Eurogroup fixed the date for the first ESM Board of Governors meeting on October 8, in the margins of the Eurogroup meeting in Luxembourg.
Angela Merkel, who appeared before the Bundestag later on Wednesday expressed her satisfaction with the Constitutional Court's ruling saying that it "provides security for German taxpayers" and emphasizing that the well-being of Germany depends on the prosperity of the entire EU.
The President of the Eurogroup fixed the date for the first ESM Board of Governors meeting on October 8, in the margins of the Eurogroup meeting in Luxembourg.
Angela Merkel, who appeared before the Bundestag later on Wednesday expressed her satisfaction with the Constitutional Court's ruling saying that it "provides security for German taxpayers" and emphasizing that the well-being of Germany depends on the prosperity of the entire EU.
