Fox Business - The Power to Prosper
Search Site

European Stability Mechanism

German Court Rules Euro-zone Bailout Fund Legal

Germany's highest court ruled Tuesday that the euro zone's permanent bailout facility does not undermine the German parliament's sovereignty over the country's budget, according to media reports . The decision by the Constitutional Court confirmed a preliminary ruling in 2012 on the European Stability Mechanism, which provides a 500 million euro ($696 billion) rescue fund for those in the currency bloc. The legality of the European Central Bank's bond-buying program, Outright Monetary Transactions, in Germany is still in question after the Karlsruhe court in February referred that decision to the European Court of Justice.Copyright © 2014 MarketWatch, Inc....

Read More

  1. Euro ministers to decide direct bank recapitalization rules on Thursday

    Euro zone finance ministers will decide on Thursday when and how their bailout fund can invest in a bank to save it from failure, laying a cornerstone of the banking...

  2. Exclusive: Creditors, governments must pay in any euro bank rescue - document

    Bondholders and governments will always have to contribute to shoring up a failing euro zone bank even when the bloc's bailout fund ESM offers direct aid, according ...

  3. Deutsche Bundesbank VP: Fed Proposals on Foreign Banks Not Helpful for Supervision

    Germany's top banking supervisor urged the U.S. to abandon its insistence on forcing big foreign banks to operate through separately capitalized subsidiaries, warnin...

  4. Buba VP Says Fed Banking Proposals Not Helpful

    Germany's top banking supervisor urged the U.S. to abandon its insistence on forcing big foreign banks to operate through separately capitalized subsidiaries, warnin...

  5. ECB Constancio: Linking National Resolution Funds Isn't Enough

    Europe must create a single resolution mechanism backed by a common pool of money to help wind down struggling banks, European Central Bank Vice President Vitor Cons...

  6. Spain banks may need to raise money to meet provisions: Rajoy

    Spain's Prime Minister Mariano Rajoy on Wednesday said the country's banks may have to raise capital on the financial markets to meet higher provisioning requirement...

  7. Ireland Still Hoping to Refinance Bank Debts Through ESM

    Ireland's government is still hoping the euro area authorities will allow it to refinance huge debts it ran up during the country's deep financial crisis to save its...

  8. Italy banks do not need EU aid: econ minister

    Italian banks do not need a European Union bailout to boost their capital base, Economy Minister Fabrizio Saccomanni said on Tuesday.Saccomanni was asked by reporter...

  9. EU Commission or ESM could wind down ailing banks: report

    People involved in negotiating a European banking union are discussing entrusting the European Commission or the euro zone's bailout fund with winding down ailing ba...

  10. Euro-Zone Banks Assets to Undergo Evaluation

    Banks that will be supervised by the upcoming euro-zone supervisory mechanism headed by the European Central Bank will undergo an asset-quality review beforehand, a ...

  11. Moody's: Italy May Still Eventually Need Bailout

    Rating agency Moody's believes Italy may still eventually need to seek a bailout despite forming a new government and avoiding immediate crisis."We cannot yet rule o...

  12. German government confident top court will uphold euro rescue ruling

    The German government is confident the Constitutional Court will confirm an earlier ruling okaying the euro zone rescue mechanism after a June hearing to consider th...

  1. Franco-German divisions cloud efforts to fix broken banks

    The euro zone wrestled on Monday with the question of who should pay for a clean-up of bust banks, as Franco-German divisions cast a cloud over efforts to seal a lan...

  2. Europe prepares to come clean on hidden bank losses

    Euro zone countries will consider on Monday how to pay for the repair of their broken banks after health checks next year that are expected to uncover problems that ...

  3. Exclusive: Berlin mulls way to bank union without Treaty change - officials

    Germany is working on a plan that would allow the completion of a euro zone banking union without changing existing EU law, potentially removing a major hurdle to fi...

  4. Germany, Finland, query Commission's planned role in bank decisions

    Germany and Finland said on Friday the European Commission should not have the final say on when and how a euro zone bank could be closed, a position that could furt...

  5. Ireland to seek 10 billion euro post-bailout backstop

    Ireland will seek a 10 billion euro precautionary credit line to insulate it against possible market shocks when its bailout expires at the end of this year, Finance...

  6. EU to decide who pays when banks fail

    The European Union sought on Friday to forge rules to force losses on large savers of failed banks, a taboo that was broken in this year's bailout for Cyprus.Finance...

  7. EU Bail Fund Conditions Get Complicated

    The European Union sought on Friday to forge rules to force losses on large savers when banks fail, a divisive reform that will shape how the euro zone deals with it...

‹ Prev12345Next ›
Freebase CC-BY
Source: European Stability Mechanism on Freebase, licensed under CC-BY
Other content from Wikipedia, licensed under the GFDL