Germany hopeful court will reject ESM complaint

Monday 10 September 2012 12.05
The spokesman of Chancellor Angela Merkel said the government is "convinced" the €500 billion European Stability Mechanism is constitutional
The spokesman of Chancellor Angela Merkel said the government is "convinced" the €500 billion European Stability Mechanism is constitutional

The German government anticipates the country's highest court will this week reject a complaint seeking an injunction against ratification of the euro zone's permanent rescue fund.

The spokesman of Chancellor Angela Merkel said today the government is "convinced" the €500 billion European Stability Mechanism is constitutional.

Steffen Seibert says the government is "going toward Wednesday in the hope that the court will see it the same way".

Over the weekend a backbench lawmaker with Mrs Merkel's conservative bloc asked Germany's Federal Constitutional Court to delay its ruling in light of a European Central Bank decision.

Mr Seibert says the government believes the ECB's decision last week that it could buy unlimited amounts of government bonds if countries first seek help from the euro zone fund does not affect the court ruling.

Keywords: germany, esm