FRANKFURT (MNI) – Germany’s Constitutional Court has reaffirmed
that it will rule Wednesday on the temporary injunctions sought against
the Eurozone’s ESM rescue fund and Fiscal Pact.
The court issued a statement Tuesday confirming the date. A German
member of parliament had sought a delay after the European Central Bank
last week put forward the details of its sovereign bond buying plan that
will take place in conjunction with the ESM.
CDU parliamentarian Peter Gauweiler had asked the court to block
the ESM from entering into force until the ECB withdraws its bond buying
plan.
“The September 12, 2012, 10:00 (CET) schedule for the announcement
of the decision remains in place,” the court said.
The decision Wednesday comes three months after Germany’s
Constitutional Court heard oral arguments in the case. Germany President
Joachim Gauck agreed to delay ratifying the ESM treaty until the
court makes its decision.
While the court is only ruling on temporary injunctions against the
treaties, it is widely expected that its decision Wednesday will not be
overturned during the main proceedings set for next year.
— Frankfurt bureau: +49 69 720 142; email: ccermak@mni-news.com —
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