German constitutional court allows EU pandemic fund to go ahead

 Germany’s Constitutional Court on Wednesday gave green light to government to back European Union’s Coronavirus recovery fund.

has set aside 750 billion euros (900 billion dollars) to revive bloc’s economy.

court threw an urgent application for German participation in fund to be declared unconstitutional.

Nevertheless, Wednesday’s ruling is not the last word on the case, as the court has yet to a definitive judgement.

The court said its summary examination had not found a high likelihood of an infringement of the .

On March 26, it had called a halt to the ratification process, by preventing President Frank-Walter Steinmeier from signing the legislation, which had previously been passed by both of parliament.

Part of the package entails placing bonds in the market as joint debt.

The European Commission can launch this process once all 27 member states have ratified the measure.

Agreed in the summer of 2020, the full package of measures aims to place 1.8 trillion euros at the bloc’s disposal up to the end of 2027. (dpa/NAN)