Welcome to DU! The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards. Join the community: Create a free account Support DU (and get rid of ads!): Become a Star Member Latest Breaking News General Discussion The DU Lounge All Forums Issue Forums Culture Forums Alliance Forums Region Forums Support Forums Help & Search
 

dkf

(37,305 posts)
Sun Sep 9, 2012, 01:59 PM Sep 2012

Fate of eurozone rests in the hands of German judges

They have the potential to throw the stock exchange into turmoil, trigger frenzy on bond markets and bring down the German government. So the eyes and ears of the eurozone will be on the eight red-robed judges of Germany's highest court this week when they deliver a long-awaited verdict over whether a financial rescue fund considered crucial to the future of the euro gets the green light.

The constitutional court is under international pressure to rule in favour of the European stability mechanism and fiscal pact. A dissenting ruling from the court, based in Karlsruhe, southwestern Germany, would probably cause havoc on money markets and cast doubt on the future of Europe's single currency.

"The German constitutional court cannot afford to be seen as not being independent, but it also cannot afford to be seen as the court that brought down the government," said Constanze Stelzenmüller, a senior transatlantic fellow at the German Marshall Fund in Berlin. "They're going to have to try to square the circle; in other words, not bring down the government at the same time as asserting their independence."

The ruling, due on Wednesday, is expected to give the go-ahead to the ESM, a permanent bailout mechanism, and the fiscal pact, but with caveats such as constraints on future decision-making or a ruling that Germany's basic law has to be rewritten if there is to be further EU integration.

http://m.guardian.co.uk/world/2012/sep/09/german-judges-to-rule-on-euro-fate?cat=world&type=article

3 replies = new reply since forum marked as read
Highlight: NoneDon't highlight anything 5 newestHighlight 5 most recent replies
Fate of eurozone rests in the hands of German judges (Original Post) dkf Sep 2012 OP
Probably a more important decision than our election. RB TexLa Sep 2012 #1
I'll bet the WH has their eyes on this one...along with the world. dkf Sep 2012 #3
"There is no safety in the cosmos." - Alan Watts Tierra_y_Libertad Sep 2012 #2
 

dkf

(37,305 posts)
3. I'll bet the WH has their eyes on this one...along with the world.
Sun Sep 9, 2012, 02:20 PM
Sep 2012

A lot of complacency that it will come out okay it seems to me. At least so far.

Latest Discussions»General Discussion»Fate of eurozone rests in...