Triumph in Defeat Euro Ruling Not as Simple as It Seems

The winners and losers in Wednesday's ruling on the permanent euro bailout fund by Germany's highest court may appear clear cut, but the decision is more complicated than it seems. Before the European Stability Mechanism can be ratified, the German government must answer complicated legal questions.
Media gather in front of Germany's Constitutional Court in Karlsruhe on Wednesday: The court will next consider the ECB's bond-buying program.

Media gather in front of Germany's Constitutional Court in Karlsruhe on Wednesday: The court will next consider the ECB's bond-buying program.

Foto: THOMAS KIENZLE/ AFP