Welcome to European Tribune. It's gone a bit quiet around here these days, but it's still going.
There are two already existing, non-temporary European institutions that could issue bonds without needing Bundestag involvement: the European Central Bank and the European Investment Bank.

Economics is politics by other means
by Carrie (migeru at eurotrib dot com) on Mon Sep 12th, 2011 at 09:17:12 AM EST
Possibly not if Germany were jointly or severally liable, though in the end the Bundestag would likely vote to approve. Or possibly so.

"Life shrinks or expands in proportion to one's courage." - Ana´s Nin
by Crazy Horse on Mon Sep 12th, 2011 at 09:43:31 AM EST
[ Parent ]
Since the institutions in question already exist, they do not need permission from the German constitutional court to bypass the Bundestag. They need permission from Strassbourg.

- Jake

Friends come and go. Enemies accumulate.

by JakeS (JangoSierra 'at' gmail 'dot' com) on Tue Sep 13th, 2011 at 07:32:57 PM EST
[ Parent ]


Occasional Series