European Court of Justice approves bailout fund, after challenge from TD Pringle

The European Court of Justice in Luxembourg has approved the ESM bailout fund, after it was challenged by Independent TD Thomas Pringle.

Ireland's Supreme Court had referred three questions to the European Court of Justice on foot of a case taken by the Donegal South West Deputy.

However the European court found EU law does not preclude the conclusion and ratification of the treaty.

Speaking to Highland Radio this morning, Deputy Pringle said: "Obviously I'm disappointed the court didn’t agree with our interpretation of the ESM and the impact it will have on the European Union."

However, he said: "I think it was vitally important the ESM was tested in the highest court possible, and we have achieved that."