BERLIN (MNI) – German Finance Minister Wolfgang Schaeuble on
Tuesday said that every Eurozone member state has the right to leave the
monetary union.
“If someone decides to leave [the Eurozone], this is something
which one will regret but will have to respect,” Schaeuble told
reporters here.
The minister said efforts to rescue ailing Eurozone members will
not be impaired by today’s ruling of the German Constitutional Court to
strengthen the power of German parliamentarians on the matter.
The Court ruled earlier on Tuesday that a nine-member parliamentary
committee set up to approve urgent action by Europe’s bailout fund EFSF
is in large part unconstitutional and that a larger number of
parliamentarians must have a say in these matters.
Yet Schaeuble stressed that, according to the ruling, the committee
will still be allowed to make confidential decisions on the purchase of
sovereign bonds by the EFSF on secondary markets.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
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