September 5, 2011
On Wednesday, Germany's highest court will announce its ruling on a legal challenge against last year's Greek bailout. It is expected to strengthen the role of the German parliament in future euro bailouts. But German Finance Minister Wolfgang Schäuble has warned that the move could hamper the rescue fund's ability to act.
On Wednesday, eight German Federal Constitutional Court judges will announce their ruling on whether the German contributions to the first Greek bailout in 2010 and to the euro rescue fund were lawful, following a legal challenge brought last year. But they already made up their minds some time ago. Ever since the public hearing on the case in July, it is seen as certain that they will demand that the German parliament be substantially involved in all further rescue operations.
It was "partly accidental, partly intentional" that the date of the ruling, on Sept. 7, comes just a few weeks before the parliamentary vote on the latest measures to stabilize the single currency, the president of the Constitutional Court, Andreas Vosskuhle, said with a smile during a book presentation in Berlin last week.
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