http://www.telegraph.co.uk/news/9530291/German-Constitutional-Court-hearing-will-be-day-of-judgement-for-the-euro.html
If they rule that the European Stability Mechanism (ESM) is compliant with the German constitution, then the final hurdle will be overcome in establishing a €700 billion bail-out fund, intended for use to prop up struggling eurozone economies.
If they rule that the ESM breaches the German constitution by handing over too much liability to Brussels, then the fund will be blocked for months or even years. Greece, Spain, and possibly even Italy could plunge into the abyss and depart, dragging with them any remaining hopes of eurozone survival.
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