Germany's highest court said Wednesday the country could contribute to the 500-billion euro, about $640 billion, rescue fund. (Creative Commons)

The Associated Press reported the Dow Jones industrial average saw a nice 35-point boost—up to 13,361—around 10 a.m. 

But Europe's debt woes are by no means over. The Guardian quoted Jeremy Cook, chief economist at World First: 

"While the immediate disaster has been averted this merely brings us back in line with the general trend of gradual, painstaking improvement in the Eurozone.

"In lockstep with the ECB’s decision to go out and buy bonds these verdicts do have the ability to fix the Eurozone but only in time.

"The economic will is there, the political will has been shown to be there, but all of this will grind to a halt if the peripheral nations do not request aid."

 Read the full AP story here, and check out The Guardian's live blog here. See more of Neon Tommy's coverage of the European debt crisis here.

Reach Executive Producer Catherine Green here; follow her here.