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The Bundesbank has in the past complained about - but not been able to block - a range of measures designed to tackle the eurozone debt crisis, such as having the European Central Bank (ECB) buy bonds of struggling eurozone member countries.
European Union finance ministers last week agreed to give the ECB new powers to supervise eurozone banks from 2014, embarking on the first step in a new phase of closer integration to help underpin the euro. But Germany rebuffed calls for more financial risk-sharing in the eurozone on Friday, rejecting a proposal for a fund to help debt-laden countries cope with economic shocks and leaving open who would pay to wind down stricken banks.
After an initial review of results from last week's summit of EU leaders, Bundesbank lawyers found the banking union project lacks "a sustainably sound legal basis", Der Spiegel said.