We tend to like getting up early, but Wednesday is a special day.
That’s because Germany’s Supreme Court — the Bundesverfassungsgericht – is going to decide on the legality of the ESM, Europe’s main bailout fund.
“Experts” roundly predict that the court will give the greenlight to Germany’s participation, ensuring that the fund comes into existence.
While it seems as though the ECB will be doing the heavy lifting in regards to backstopping governments, the [...]
A hearing at Germany’s version of the Supreme Court, to be held on July 10, could destroy all the optimism from the last EU summit.
In the wake of the European summit last Friday, the German legislature finally approved the European Stability Mechanism—a permanent European bailout fund.
However, the Constitutional Court (in German, the Bundesverfassungsgericht) could now issue an injunction against the ESM if it finds that the mechanism impinges upon the [...]
The nine-member panel set up by the German parliament to monitor the activities of the temporary euro bailout fund is “in large part” unconstitutional, Germany’s top court said on Tuesday.
The ruling could curtail Berlin’s ability to fight the euro crisis.
Germany’s highest court ruled on Tuesday that a select body of nine parliamentarians cannot alone make emergency decisions on eurozone financial aid, calling instead for the entire legislature to participate more actively.
The Constitutional [...]