ANOTHER HURDLE FOR THE EURO: FRENCH HIGH COURT TO RULE ON CONSTITUTIONALITY OF FISCAL PACT

France's Constitutional Council debated on Thursday whether adopting the EU's budget responsibility pact requires amending the constitution - a move that could complicate French ratification of the accord intended to bolster the euro. Its ruling is expected late in the day. 

The fiscal pact, signed in March and committing governments to tight deficit limits, must be ratified by 12 of the 17 euro zone countries before it can come into force in January, with the aim of calming investors concerned at heavy public debts. Socialist President Francois Hollande wants to avoid writing a fiscal rule into the constitution, something left-wingers oppose, and instead hopes to pass a powerful form of law through parliament that will hold ministers to the EU budget targets. 

If the Council, France's highest constitutional body, rules against him and decides the pact requires a constitutional amendment, that could delay ratification by several weeks and trigger a divisive debate on European integration.

NOTHING ABOUT THE EURO HAS BEEN GOOD FOR EUROPE - NEITHER ECONOMICALLY, FINANCIALLY OR DEMOCRATICALLY.

THE SOONER THEY DO THE RIGHT AND COURAGEOUS THING AND ABANDON THE EURO, THE BETTER.