Dutch lawmaker loses bid to block bailout fund

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A Dutch court has ruled against euro-skeptic lawmaker Geert Wilders in his suit seeking to block the Netherlands' approval of the European bailout fund.

Parliament had already approved participating in the European Stability Mechanism by a large majority, but Wilders launched a suit arguing that it was wrong for the caretaker Cabinet to do so until national elections are held in September.

The Hague district court said in a summary judgment Friday that, under the Dutch constitution, it's up to the legislative and executive branches to make such decisions, not the courts.

The Netherlands is responsible for 5.7 percent of the fund, which will use €80 billion ($99 billion) in capital to raise up to €500 billion in cash for financially distressed European governments.