Germany's supreme court rejects bid to stop funding Greek bailout plan

11:46, May 09, 2010      

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The Federal Constitutional Court of Germany rejected legal action seeking to block the country's contribution to the Greek bailout plan on Saturday.

German parliament on Friday approved the rescue package for Greece, which will provide 22.4 billion euros (28.5 billion U.S. dollars) to Greece over three years.

The rescue package is part of a 110-billion-euro (140-billion-dollar) international rescue plan backed by eurozone members and the International Monetary Fund, but it is very unpopular in Germany.

Five German academics, including euro-sceptic economist Joachim Starbatty, on Friday filed an action asking the Federal Constitutional Court in the city of Karlsruhe to overturn the decision.

Source: Xinhua


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