German Confidence in ESM Ruling Not Shaken by Last-Minute Motion
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German Finance Minister Wolfgang Schaeuble told students last week he was confident the country’s role in the European Stability Mechanism would be approved by its highest court. Morgan Stanley’s Elga Bartsch says there is a 40 percent chance he is wrong.
The Federal Constitutional Court, scheduled to rule tomorrow in Karlsruhe on whether Germany may ratify the ESM, is the final hurdle for the 500 billion-euro ($640 billion) plan to rescue indebted euro-area member states.