Germany's Constitutional Court said on Tuesday it would not postpone its
long-awaited ruling on the legality of the euro zone's bailout fund,
despite a last-minute legal challenge by a eurosceptic lawmaker.
The court said it would go ahead with Wednesday's ruling on the legality of the European Stability Mechanism (ESM) and the fiscal compact for budget discipline, whose implementation has been delayed for months by the German judges.
The Constitutional Court issued a brief statement saying the ruling at 10 a.m. (0800 GMT) on Wednesday "will go ahead as scheduled", meaning conservative lawmaker Peter Gauweiler's last-minute challenge would not cause further delays.
The court in Karlsruhe did not go into the merits of his complaint, lodged at the weekend after the European Central Bank announced its plans for unlimited purchases of bonds of crisis-hit euro states to reduce their borrowing costs.
He argues that Germany should not ratify the ESM until the ECB rows back on the bond-buying plan which he sees as a threat to the German budget. The constitutional court should therefore possibly postpone its decision on the fund, he said.
The court said it would go ahead with Wednesday's ruling on the legality of the European Stability Mechanism (ESM) and the fiscal compact for budget discipline, whose implementation has been delayed for months by the German judges.
The Constitutional Court issued a brief statement saying the ruling at 10 a.m. (0800 GMT) on Wednesday "will go ahead as scheduled", meaning conservative lawmaker Peter Gauweiler's last-minute challenge would not cause further delays.
The court in Karlsruhe did not go into the merits of his complaint, lodged at the weekend after the European Central Bank announced its plans for unlimited purchases of bonds of crisis-hit euro states to reduce their borrowing costs.
He argues that Germany should not ratify the ESM until the ECB rows back on the bond-buying plan which he sees as a threat to the German budget. The constitutional court should therefore possibly postpone its decision on the fund, he said.
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