THIS IS GOOD NEWS—only if you look at the short term: "Germany and Europe can both breathe a sigh of relief on Wednesday: The Federal Constitutional Court has rejected a petition to stop the ratification of the permanent euro rescue fund, the European Stability Mechanism. The decision clears the way for the ESM to go into effect."

So is the Euro saved? Not by a long shot. At least not for our grandchildren, who will be those paying this stuff.