- Oct 26, 2006
A legal challenge is underway in Germany to block planned bailouts of struggling eurozone nations.
German Govt Challenged Over Bailout: Campaigners Say EU Aid Package Is Unlawful | Business | Sky NewsFifty plaintiffs, including some of the country's most significant business figures, argue that the aid package runs contrary to the German constitution.
If their collective injunction is successful it would stop Germany paying more than 20bn euro to Greece and Ireland.
Interesting development here. If the challenge survives then perhaps we will default sooner rather then later.