German court to rule on EU bailout fund in September | News | DW | 16.07.2012
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German court to rule on EU bailout fund in September

Germany's Constitutional Court has confirmed that it will not make its decision on the European Stability Mechanism (ESM) and the fiscal pact until mid-September.

As indicated at its meeting last Tuesday, Germany's highest court, the Constitutional Court, will rule on the ESM's and the fiscal pact's constitutional compatibility on September 12.

The court's president, Andreas Vosskuhle, had already hinted last Tuesday that despite being urged to act quickly by Finance Minister Wolfgang Schäuble, the court would take more than the usual three to four weeks over its decision on the EU's permanent bailout fund.

Several groups, among them members of the Left party, some Christian Democrats and the citizens' group More Democracy, which drummed up the support of 12,000 Germans, had filed a complaint against the fund.

They argue that the measures on the eurozone crisis, which both houses of parliament waved through at the end of June, carried incalculable risks for Germany and that it was nigh on impossible to gauge the impact they may have on the country.

The launch of the ESM was originally scheduled for July 1. Thirteen of the 17 eurozone member states have ratified it so far.

ng/tj (dpa, dapd, AFP)