• Speaking immediately after the German Federal Constitutional Court rejected a challenge to block eurozone bailouts on the grounds that they were illegal, UKIP leader, Nigel Farage MEP said today:
"This judgement now puts the German government on a collision course with the German taxpayer and I believe will lead to an increase in Eurosceptic sentiment in the country.
"The German people, like many in Northern Europe, are getting very tired of their tax money bailing out other states.
"The court today tightened up the law and demanded that in the future the German Federal government is obliged to obtain Budget Committee approval prior to giving any guarantees which is a useful development.
"The Maastricht Treaty is clear that no bailouts are permissible and IMF Chief Lagarde has admitted that the treaties were broken and the EU acted illegally."
In its press release the Federal Constitutional Court stated that "In today’s judgment, the Federal Constitutional Court has rejected as unfounded three constitutional complaints which are directed against German and European legal instruments and other measures in connection with the aid to Greece and with the euro rescue package."
The last paragraph of the German judgement states:
"However, § 1.4 sentence 1 of this Act merely obliges the Federal Government to strive to reach an agreement with the Bundestag’s Budget Committee before giving guarantees. This is not sufficient. Instead, guaranteeing parliamentary budget autonomy requires an interpretation of this provision in conformity with the constitution to the effect that the Federal Government is in principle obliged to always obtain prior approval by the Budget Committee before giving guarantees."