German Court Will Not Delay ESM Decision

Germany’s Constitutional Court sees no reason to delay a ruling scheduled for Sept. 12 on the legality of the euro zone’s permanent bailout fund and a separate pact on budget discipline.

On Monday, a group of German academics said it was seeking to delay the hotly anticipated ruling by the country’s top court on whether the European Stability Mechanism (ESM) and the so-called fiscal compact violate German law.

“Delaying the date of the verdict is currently not indicated,” a spokeswoman for the court said.

Europolis, a group led by German academic Markus Kerber, said the Karlsruhe-based court should make no decision until the European Court of Justice has ruled on a similar case brought by an Irish member of parliament.

via Bloomberg

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