German court rejects calls to block eurozone rescue fund

Simon Tilford, chief economist at the CER said the ruling's most interesting aspects were the conditions attached. "It's unlikely that the German government would vote to increase the amount of money that it can commit to the fund," he said. "The court's ruling that unlimited liability would be unconstitutional rules out Eurobonds or a banking sector union as both would imply that member states would have unlimited liability. That would involve a reform of the German constitution."