Merkel breaks German law on ESM rescue
Angela and Wolfgang - still not making friends
You can see why Chancellor Angela Merkel and Finance Minister Wolfgang Schäuble are back-pedalling so frantically over the EU summit deal.
While Mrs Merkel seemingly agreed to let the European Stability Mechanism (bail-out fund) rescue banks directly – starting with Spain – she did not have the authority from the Bundestag to do so.
Indeed, she violated a categorical prohibition by the budget committee or Haushaltsausschuss.
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