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September 12, 2012

German court backs ESM rescue fund in double-edged ruling

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Markets breathed a sigh of relief across the world after the Constitutional Court in Karlsruhe ruled that the European Stability Mechanism (ESM) and the EU's Fiscal Compact are compatible with the country's Basic Law. The euro surged to a four-month high of €1.29 to the dollar. "This is a good da... FF News: Fundamental

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