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German court may delay euro ruling
(No Ratings Yet)Germany’s Constitutional Court said on Monday, September 10, it will examine whether to postpone its long-awaited verdict on the eurozone’s €500bn ESM rescue fund and the EU fiscal pact given a new legal challenge by a leading eurosceptic politician.
The court reacted to the latest challenge by Peter Gauweiler – a eurosceptic lawmaker from the CSU Bavarian sister party to Chancellor Angela Merkel’s conservatives.
The court verdict is the last legal hurdle for the ESM before it can come into effect. Until now, the court had been scheduled to deliver its ruling on Wednesday, The Telegraph reported.
But it could now be held up following Gauweiler’s latest complaint on Sunday, in which he challenged last week’s decision by the European Central Bank to launch a bond-buying programme.
He argues that the ECB move alters the situation and the court must now first decide whether the central bank’s bond purchase programme is legal before it can rule on the constitutionality of the ESM rescue fund.
The court is to announce its decision on Tuesday, September 11.
Ref.110.000.103.1913
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