A number of key developments across Europe today will have a major bearing on the continuing eurozone debt crisis.

In Germany the Constititional Court has ruled the new permanent rescue fund, the European Stability Mechanism, is compatible with the German constitution.

In the Netherlands voters go to the polls amid widespread disenchantment with budget cuts and with funding bailouts for peripheral countries.

In Strasbourg the European Commission president has unveiled proposals for a new mechanism to supervise EU banks.

Meanwhile the Minister for Finance Michael Noonan begins a tour of three capitals to press for support on Ireland's bank debt issue.

The developments come amid a degree of cautious optimism following the decision by the ECB to pledge unlimited intervention in the bond markets to shore up the single currency.

In Karlsruhe the constitutional court has decided the €500 billion ESM fund is compatible with Germany's basic law.

In the Netherlands the general election is seen as a bellweather for growing voter weariness over austerity, but also over the rescue of Greece and other bailout countries.

Recent polls show however, that pro-eurozone parties will gather the most votes.

In Strasbourg Commission President Jose Manuel Barroso has spelt out proposals for a bank supervision regime covering some 6,000 european banks - this is a precondition for Germany supporting the ESM being able to directly recapitalise banks.

In Paris the Minister for Finance Michael Noonan will meet his French counterpart before flying to Berlin and then on to Rome to try and garner political support for a long-awaited deal on Ireland's bank debt burden.