Mediafax (Mediafax)
Markets  |  July 10, 2012 03:35:05

The German Constitutional Court shall examine the complaint concerning the ESM (10.7.2012)


KARLSRUHE (MEDIAFAX) - The German Constitutional Court on Tuesday will review a complaint filed against the approval of a permanent euro rescue fund, called the European Stability Mechanism (ESM). The judges do so in the hearing, a day after the Fund should come into force.

Ratification ESM thus delayed in Germany. German parliament while 29th The stabilization mechanism in June approved.

Federal President Joachim Gauck has previously said he does not sign it until it expresses Court in Karlsruhe. Immediately after the parliamentary vote on the ESM is some German MPs filed a complaint to the Constitutional Court. He recently confirmed the allegation of opposition legislators that the German government informed Parliament last year was insufficient regarding ESM.German Government under this verdict has to Members of the Bundestag as early as possible to inform the negotiations on the rescue of the euro area and enable them to participate.

The Constitutional Court last year gave more say about the German legislators EFSF by requiring the government to seek the consent of the Budget Committee of the Bundestag before the German government decides to rescue operations.

For example, recently approved the ESM the Austrian Parliament and the Dutch Senate. ESM Fund to help a weakened euro area countries to cope with the continuing debt crisis. In parallel, it will be for one year to work as well as existing European Financial Stability Fund (EFSF).

Tomáš Králíček, kralicek@mediafax.cz

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Read also:

June 11, 2013Německo - dnes začíná jednání ústavního soudu o ESM a OMT Research (Česká spořitelna)
September 12, 2012German Constitutional Court sanctified ESM and EU fiscal pact Vladimír Urbánek (Kurzy.cz)

Německý ústavní soud přezkoumá stížnost ohledně ESM (10.7.2012)

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