German Finmin tells court ESM delay would rile markets
KARLSRUHE, Germany, July 10 |
KARLSRUHE, Germany, July 10 (Reuters) - German Finance Minister Wolfgang Schaeuble told the country's Constitutional Court on Tuesday that any significant delay in approving the EU's permanent bailout fund could fuel financial market turbulence.
"A considerable postponement of the ESM (bailout fund) which was foreseen for July this year could cause considerable further uncertainty on markets beyond Germany and a considerable loss of trust in the euro zone's ability to make necessary decisions in an appropriate timeframe," Schaeuble said.
He was addressing a hearing of the court which is examining a number of complaints lodged by academics, lawmakers and ordinary citizens against the European Stability Mechanism (ESM) and new budget rules which they say undermine German democracy.
- Tweet this
- Share this
- Digg this