• Germany's news in English

Top court will rule on euro rescue next week

The Local · 2 Jul 2012, 16:48

Published: 02 Jul 2012 16:48 GMT+02:00

Facebook Twitter Google+ reddit

The Karlsruhe-based court said on Monday it would decide next Tuesday whether two vital pieces of Chancellor Angela Merkel's euro rescue policy might need to be re-drawn before the German president can sign them into law.

The court has to consider five constitutional challenges to the legislation, submitted by a private citizen, activist groups, as well as politicians from both ends of the political spectrum, who all fear that the legislation limits the powers of the German parliament.

These challenges have been filed by the socialist Left party, Peter Gauweiler, MP for the conservative Christian Social Union, pro-democracy organization Mehr Demokratie, a group of university professors, and an unnamed private citizen.

As well as the threat to democracy, the challengers also believe that the ESM could lead to Germany being exposed to unlimited liability for any future European financial crises.

They also argue that Germany's contribution to the permanent European bailout system would be so high that the Bundestag will effectively no longer have control over the state budget. They also say that not enough parliamentary control has been built into the system.

Furthermore, they argue that the European fiscal compact, which is intended to impose budgetary discipline on European Union members, sets debt limits for the country, which means that by German law it should be put to a referendum.

President Joachim Gauck said earlier this month he would agree to wait to sign the laws in order to prevent them coming into force before the court had considered the challenges to them.

Story continues below…

DAPD/The Local/bk

The Local (news@thelocal.de)

Facebook Twitter Google+ reddit

Your comments about this article

17:38 July 2, 2012 by Bushdiver
If they sign this into law this will just add more burden and loss of money on the Germans. This is a losing battle trying to save the EU and the Euro. Basically the EU could be saved if they just dropped the single currency.
18:50 July 2, 2012 by puisoh
The euro could be saved if Germany would simply leave it and go back to D-Mark.
06:55 July 3, 2012 by luckylongshot
The problem the ESM is supposed to fix is that there is way too much bad debt in Europe: The thinking that this problem can be solved by creating more debt is illogical. If you owe too much a solution that means you end up owing more is not a realistic solution. This is why none of the resscue packages have worked or will work,

Sooner or later the mountain of bad debt will need to be written off. No matter how much of Germany's wealth the politicians give away in order to delay the inevitable collapse it will not help. Lets hope the court stops Germany from signing the ESM. We need a solution that at least offers the hope of solving the problem and the ESM does not do that.
Today's headlines
Creepy clown scare spreads to Germany
Two of the clowns were apparently equipped with chainsaws. Photo: Pedro Pardo / AFP file picture

Police said Friday five incidents involving so-called scary clowns had occurred in two north German town, including one assailant who hit a man with a baseball bat, amid fears that Halloween could spark a rash of similar attacks.

Student fined for spying on women via their webcams
Photo: DPA

Student from Munich fined €1,000 for spying on 32 different computers, using their webcams to take photographs, or record their keyboard history.

This is how much startup geeks earn in Germany
Photo: DPA

A comprehensive new survey of 143 startup founders shows how much you are likely to be earning at a German startup, from entry level all the way up to sitting on the board.

Man dies after beating for peeing near Freiburg church
The Johannes Church in Freiburg. Photo Jörgens Mi/Wikipedia

A middle-aged man from southern Germany has died after being attacked by a group of men who took umbrage with the fact he was urinating in the vicinity of a church.

The Local List
Seven German celebrities with uncanny doppelgängers
Former Berlin mayor Klaus Wowereit and actor Alec Baldwin. Photo: DPA; Gage Skidmore, Wikimedia Commons

Check out these seven look-a-likes of well known German figures - we admit that some are more tenuous than others...

Israel seeks to buy three new German submarines: report
A Dolphin class submarine. Photo: DPA

Israel is seeking to buy three more advanced submarines from Germany at a combined price of €1.2 billion, an Israeli newspaper reported Friday.

Here’s where people live the longest in Germany
Photo: DPA

Germans down south seem to know the secret to a long life.

More Germans identify as LGBT than in rest of Europe
Photo: DPA

The percentage of the German population which identifies as lesbian, gay, bisexual or transgender is higher than anywhere else in Europe, according to a new study.

'Reichsbürger' pair attack police in Saxony-Anhalt
File photo: DPA.

A "Reichsbürger" and his wife attacked police officers on Thursday, just a day after another Reichsbürger fatally shot an officer in Bavaria.

Five things not to miss at the Frankfurt Book Fair
Photo: DPA

From consulting a book doctor to immersing yourself in an author's world with the help of virtual reality, here are five things not to miss at this week's Frankfurt Book Fair, the world's largest publishing event.

Sponsored Article
How to vote absentee from abroad in the US elections
10 things you never knew about socialist East Germany
Sponsored Article
Last chance to vote absentee in the US elections
How Germans fell in love with America's favourite squash
How I ditched London for Berlin and became a published author
Sponsored Article
How to vote absentee from abroad in the US elections
12 clever German idioms that'll make you sound like a pro
23 fascinating facts you never knew about Berlin
9 unmissable events to check out in Germany this October
10 things you never knew about German reunification
10 things you're sure to notice after an Oktoberfest visit
Germany's 10 most Instagram-able places
15 pics that prove Germany is absolutely enchanting in autumn
10 German films you have to watch before you die
6 things about Munich that’ll stay with you forever
10 pieces of German slang you'll never learn in class
Ouch! Naked swimmer hospitalized after angler hooks his penis
Six reasons why Berlin is now known as 'the failed city'
15 tell-tale signs you’ll never quite master German
7 American habits that make Germans very, very uncomfortable
Story of a fugitive cow who outwitted police for weeks before capture
Eleven famous Germans with surnames that'll make your sides split
The best ways to get a visa as an American in Germany
jobs available
Toytown Germany
Germany's English-speaking crowd