6-Sep
ESM Permanent Bailout Fund
Prepares for Prime Time – Spiegel
The court battle against the permanent euro
bailout fund, the ESM, has become the largest in German legal history. Yet
despite widespread concerns, fund head Klaus Regling is preparing for action.
The most important question surrounding the fund, however, remains to be
answered: Will it work?
10-Sep
German Court Decision on Bailout Fund Looms Over Euro Crisis – BB
“I think the court will say this is something
that Germany can manage,” Clemens Fuest, an economist at Oxford University’s Said Business School, said in a phone
interview. Still, the court will likely take an interest in parliamentary
involvement and “impose some conditions” on the ESM.
View roundup on German constitutional court – ZH
German
Constitutional Court Approval of ESM Not a Done Deal; Draghi's Fatal Mistake? – Mish’s
A year ago I think a referendum would have
passed with flying colors. Now 54% of Germans Want the Constitutional Court to Kill the ESM…I had been thinking the court would easily approve the
ESM, but with reservations. However, the OMT changed the odds quite a bit.
New Twists in the Plot (German Court and Greece) – Marc
to Market
It is difficult to imagine that German
Constitutional Court would rule that the ECB's OMT violates the German
constitution…decide whether to grant an injection delaying the formal
establishment of the ESM and the fiscal compact, while they decide the legality
of it at a future date.
11-Sep
The countdown for the ESM:
press views on Karlsruhe – bruegel
On Wednesday Germany’s Federal
Constitutional Court (FCC) will announce its decision on the ESM as well as on the Fiscal
Pact. Immediately after the decision Chancellor Angela Merkel will react in the
German Bundestag with a government declaration to the FCC’s decision. The
decision is eagerly anticipated by German and EU politicians as well as of both
German and international press and we review the German press here.
No delay from Karlsruhe – alphaville
/ FT
Eurointelligence have put together a press wrap
ahead of the actual decision, including a consensus that the much favoured
‘Yes-But’ option is a lot trickier than is generally assumed:
German
Constitutional Court Ruling: Here’s What to Expect – MarketBeat
/ WSJ
There’s an overwhelming consensus that predicts
the Court will affirm the bailout funds, while perhaps hoping to renegotiate
some other stipulations for additional say on future aid. But should they block
it, there could be some serious ramifications
Another Eventful Week in the Euro Area – PIIE
Progress Toward a Banking Union * The German Constitutional Court * No Stumbling Block in Dutch Elections
German court seen okaying EU bailout fund,
strings attached – Reuters
Germany's Constitutional Court is expected to give its approval on Wednesday to the euro zone's new
bailout fund while insisting on guarantees to safeguard German parliamentary
sovereignty and limit Berlin's financial exposure.
ESM Ruling Won’t Be Delayed, Germany’s Top Court Says – BB
12-Sep
What the German Court decision might mean
for euro stocks, yields – Saxo
Bank
How to play European financial stocks on the
German court ruling
– Saxo
Bank
Eurozone live: German justice – The
World / FT
Welcome to our rolling coverage of the eurozone
crisis. German judges today rule on the eurozone’s rescue plans.