German Court Won't Delay Ruling On ESM: Reports

Smart Forex News

MT5 - Germany's Federal Constitutional Court said Tuesday that it would not delay its most-awaited ruling on the European Stability Mechanism, or ESM, while rejecting a last-minute bid by a German lawmaker to postpone the judgment. 

Reports said the top court in Karlsruhe will pronounce its ruling on the bailout fund and the fiscal compact for budget discipline at 10 a.m. (0800 GMT) on Wednesday, as originally planned, after rejecting a petition for a temporary injunction by Peter Gauweiler, a member of Parliament. 

Gauweiler has said in a statement that the fund should not be ratified until the European Central Bank revokes its bond-buying plan.

Published: 2012-09-11 09:28:00 UTC+00 15 hours, 14 min. ago