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Top German Court Rejects Anti-Euro Bailout Suits

Chancellor Angela Merkel

Chancellor Angela Merkel

Germany's Constitutional Court has rejected legal challenges to the country's participation in bailout packages for Greece and other troubled eurozone nations.

But the court ruled that the German government must seek approval of parliament's budget committee before providing any future aid.

The German parliament has backed Germany's participation in the May 2010 bailout for Greece to avoid the country from defaulting on its sovereign debt, as well as in the 440-billion euro ($620 billion) facility to help other indebted eurozone nations.

The lawsuits filed by a group of prominent euroskeptics had argued Germany's participation in the bailouts violated parliament's right to control spending of taxpayers' money.

Chancellor Angela Merkel told parliament the court ruling confirmed her government's policies in dealing with the eurozone debt crisis.

The ruling means Germany's participation in the bailout packages remains in force, but it could slow down Europe's response to the debt crisis, which has already been criticized as being too slow.

compiled from agency reports