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German Ruling on ESM Unlikely to Be Delayed, Handelsblatt Says

A ruling by Germany’s highest court on the European Stability Mechanism, the euro-area’s future permanent financial backstop, is unlikely to be delayed by a complaint from plaintiffs led by German Professor Markus Kerber, the Handelsblatt newspaper said.

There is no indication that a postponement of the Sept. 12 ruling has been ordered as a result of the complaint, Handelsblatt said, citing a spokeswoman for the Karlsruhe-based Federal Constitutional Court it didn’t name. Nobody could be reached at the court’s press department when contacted by Bloomberg News.

Germany’s top court is unlikely to allow proceedings at the European Court of Justice to sway it from the deadline it has set itself next month, the newspaper cited constitutional law expert Joachim Wieland from the School of Administrative Science in the town of Speyer as saying.

Kerber asked the Karlsruhe court to await the European’s court’s ruling before issuing its own opinion.

Irish lawmaker Thomas Pringle, who challenged legislation on the permanent backstop, was referred to the European court after Ireland’s Supreme Court ruled that it can’t block the government from ratifying domestic legislation on the ESM.

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