“This is a wise decision which reflects the pro European spirit of our Constitution.

Our work for the euro and for Europe will continue.

The limitation on our liability imposed by the Court is necessary and correct. Germany’s capabilities must not be over stretched.

The Federal Constitutional Court has reaffirmed the policy pursued by the German Government and declared it to be constitutional. That is good for Germany and good for Europe.

We have already made significant progress towards overcoming the Eurozone debt crisis. Now that we have the go ahead from the Court in Karlsruhe, the European Stability Mechanism – the permanent rescue package – can be ratified and begin its work.

There is now light at the end of the tunnel. But we must not weaken in our resolve to overcome the debt crisis together by exercising budgetary discipline, focusing on growth and practising European solidarity.”