German Constitutional Court Ruling on the ESM september 12 2012

German Constitutional Court Ruling on the ESM september 12 2012 : German parliamentary member Peter Gauweiler submitted a complaint against the ECB's bond-buying scheme and has forced the German Constitutional Court to re-examine its decision on the ESM. The court will conduct an emergency session regarding the issue today and will announce its rule on it tomorrow.

The 8 scarlet robe-wearing justices of Germany's highest court will most probably not delay its decision on the ESM. Market junkies are banking on the assumption that the court understands the severity of the economic and political consequences of a delay in the implementation of the rescue fund.

Meanwhile, Germany’s constitutional court confirmed that it will give its ruling on the euro zone’s bailout fund, the European Stability Mechanism on Wednesday, following earlier reports suggesting that the decision may be delayed.


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