BERLIN (MNI) – The German Constitutional Court is weighing the
possibility of imposing an interim order against Germany’s participation
in the E750 billion EU/IMF fiscal rescue package, German weekly Der
Spiegel reported Sunday.
The magazine cited a letter from the President of the
Constitutional Court, Andreas Vosskuhle, to, amongst others, the German
government, the European Central Bank and the Bundesbank. The case
involves a lawsuit filed against the rescue package by Peter Gauweiler,
a lawmaker from Chancellor Angela Merkel’s center-right CDU/CSU bloc.
An interim order by the court could temporarily forbid the German
government from mobilizing the loan guarantees proposed under the EU
package, Der Spiegel said. Germany’s share of the EU measures amounts to
up to E148 billion in guarantees.
According to the magazine, the German government in a statement to
the Constitutional Court has warned that an interim order could lead to
“a self-fulfilling expectation of a default” by fiscally ailing EU
member states.
Moreover, the government remarked that the EU rescue package “is
not a legally binding agreement under international law but only a
political declaration of intent.”
In addition to Gauweiler’s lawsuit, three others have been filed at
the Constitutional Court against the rescue package. Another lawsuit is
to be filed next week, the magazine wrote.
–Berlin bureau: +49-30-22 62 05 80; email: twidder@marketnews.com
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