Germany’s highest court ruled on Tuesday that the European bailout fund, the ESM, was in line with the country’s constitution, throwing out numerous objections by euroskeptics. Confirming a preliminary ruling dating from September 2012, the Federal Constitutional Court said it saw no obstacles to Germany taking part in the €500-billion European Stability Mechanism, set up to bail out troubled countries and their banks. Nevertheless, in the ruling, presiding judge Andreas Voßkuhle insisted that it must be “the Bundestag [lower house of parliament] which retains sole responsibility over Germany’s public income and spending, even with regard to its international and European...