protests against eu rescues go to top german court
Last Updated : GMT 06:49:16
Arab Today, arab today
Arab Today, arab today
Last Updated : GMT 06:49:16
Arab Today, arab today

Protests against EU rescues go to top German court

Arab Today, arab today

Arab Today, arab today Protests against EU rescues go to top German court

Karlsruhe - AFP

The German Constitutional Court opened hearings on Tuesday on complaints against bailout loans for Greece and European Union emergency funds, but the rescue money from Germany is likely to flow on. The highest court in Karlsruhe, southwestern Germany, considered appeals against the government's decision to contribute to rescue funds for debt-laden Greece last year and the European Financial Stability Facility (EFSF) which was established a short time later. The government's decision committed Germany to guaranteeing loans of up to 22.4 billion euros ($32.4 billion) for Greece and 211 billion euros for other eurozone countries. A ruling is expected only in a few months, but questions posed by the court should indicate the issues it considers most pertinent, and it could bolster the German parliament by acknowledging additional supervisory powers, observers said. The court will probably not, however, "lay down excessively restrictive provisions for the government," Commerzbank analyst Eckart Tuchtfeld forecast. Germany's partners within the 17-nation eurozone will nonetheless follow the proceedings closely given a popular undercurrent of resistance to aid from the bloc's economic powerhouse. A group of lawmakers within the Bundestag, or lower house of parliament, including within Chancellor Angela Merkel's conservative coalition, have become outspoken objectors for the discontent. Some claim the rescue measures violate no bailout terms of the Maastricht Treaty, or the German Constitution, and Tuchtfeld said that the court could take issue with the fact that loan guarantees committed future budgets and therefore restricted the parliament's budgetary rights. The court's ruling is also expected to consider Germany's participation in the European Stability Mechanism (ESM), a permanent rescue fund expected to replace the EFSF in mid 2012. "We find ourselves on a path we cannot see the end of, and we want to know if this is the right path," said Joachim Starbatty, a university professor who was one of the first to file a complaint with the court. Finance Minister Wolfgang Schaeuble argued in a statement to the court that Berlin had to stand alongside its eurozone partners, saying "a common currency cannot make it without solidarity among its members." Himself a jurist by training, Schaeuble also noted that European treaties allowed for the possibility of EU member countries providing "mutual support" in times of trouble. Although Tuchtefeld did not expect such a result, he warned that "if the court were to restrict the government's leeway to act, the consequences for the EU and the financial markets could be extremely serious."

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

protests against eu rescues go to top german court protests against eu rescues go to top german court

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

protests against eu rescues go to top german court protests against eu rescues go to top german court

 



GMT 10:06 2012 Saturday ,28 July

Querrey advances at ATP LA Open

GMT 21:15 2017 Thursday ,01 June

Trump condemns deadly Kabul explosion

GMT 02:15 2017 Thursday ,24 August

Is your country on the Qatar free entry list of 80?

GMT 19:48 2016 Monday ,03 October

Controversial boxing champ Tyson Fury retires

GMT 08:20 2015 Tuesday ,08 December

PC market woes show no sign of easing

GMT 17:27 2017 Tuesday ,25 April

20 Yemeni soldiers killed, injured in explosion

GMT 11:52 2017 Saturday ,30 December

OIC condemns Mar Mina Church attack

GMT 00:03 2017 Saturday ,25 March

Arab Meeting to Examine Anti-Corruption Methods

GMT 13:12 2017 Thursday ,20 April

Deputy premier meets Arab League chief

GMT 14:13 2014 Friday ,10 January

Opel Astra GTC

GMT 18:27 2016 Tuesday ,02 August

Turkish Foreign Minister arrives in Islamabad

GMT 11:27 2016 Tuesday ,13 December

Saudi woman arrested for challenging social norms
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

Maintained and developed by Arabs Today Group SAL.
All rights reserved to Arab Today Media Group 2021 ©

arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday