Court May Take Longer to Rule on Euro Measures

Features report that the German Constitutional Court may take several months, rather than the expected three weeks, to decide on a request that it issue a temporary injunction blocking measures to rescue the euro. Finance Minister Wolfgang Schäuble urged the court to hurry up on the 10 July 2012, warning that a delay could lead to a further market turbulence.

The question for Germany's highest court: was the German president permitted to sign into law two measures aimed at stemming the eurozone crisis, the European stability mechanism (ESM) and the fiscal pact? If not, those laws would be tabled until the court reaches a decision on the larger question of their compatibility with the German constitution.

The German Federal Constitutional Court said on the 17 July 2012 that it would decide on the 13 September 2012 whether to issue a temporary injunction against laws on the ESM permanent euro rescue fund and the fiscal pact. That time span was slightly shorter than the three months that some had expected.

Der Spiegel, 10.7.12: Karlsruhe — the court that could bury the euro (via PressEurop) http://www.presseurop.eu/en/content/article/2323361-karlsruhe-court-could-bury-euro

EUObserver, 11.7.12: German court set to delay bailout fund decision http://euobserver.com/19/116932

Deutsche Welle, 10.7.12: Karlsruhe to decide on ESM and fiscal pact http://www.dw.de/dw/article/0,,16087038,00.html

Spiegel Online International, 11.7.12; Court Delay Spells Risky 'Endurance Test' for Euro http://www.spiegel.de/international/europe/german-review-of-press-commentaries-on-constitutional-court-hearing-a-843832.html

Spiegel Online International, 16.7.12: Court to Rule on Euro Measures on Sept. 12 http://www.spiegel.de/international/europe/german-constitutional-court-to-rule-on-sept-12-on-esm-and-fiscal-pact-a-844552.html

---