Germany Ratifies Eurozone Bailouts

Cabinet declaration marks the final step, Germany's contribution is capped at 190 billion euros

Germany has taken the final step to ratifying the Eurozone Stability Mechanism, with a cabinet declaration that addresses concerns raised by the country's constitutional court.

The Eurozone bailout fund, which was given the green light by German lawmakers earlier this month, can now go ahead in an attempt to stem the ongoing debt crisis.