A hearing at Germany's version of the Supreme Court, to be held on July 10, could destroy all the optimism from the last EU summit. In the wake of the European summit last Friday, the German legislature finally approved the European Stability Mechanism—a permanent European bailout fund.
However, the Constitutional Court ... could now issue an injunction against the ESM if it finds that the mechanism impinges upon the sovereignty of the German state.
IF THEY RULE THAT IT VIOLATES THE GERMAN CONSTITUTION, THEN THE EURO WILL COLLAPSE BECAUSE WITHOUT GERMANY THERE IS NO EURO.
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Hi, and on Thursday, July 5th
Tentative – Spanish 10 Year Bond Auction: the Spanish government will issue another bond auction; following the recent EU Summit this auction sales is likely to go well; in the previous bond auction, which was held at the beginning of June, the rate reached 6.04%.
Lets see what becomes of it.:)
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