German High Court To Address ESM and Fiscal Pact

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Europe Update: German Court To Address Key Issues of ESM and the "Fiscal Pact"

Reuters is reporting that Germany's top court will address whether Europe's new bailout scheme and budget rules are compatible with national law today.

The article says the hearing may indicate how long the court will keep Europe on edge. It added that anything more than a few weeks would mean a serious delay to implementing the ESM, which has already been postponed from 1-Jul, and raise serious doubts about the program.

However, it could take up to three months for Germany's court to rule.

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Other stories on Europe to review:

• EU to Jumpstart Loans to Spanish Banks
  
• Germany's Industrial Production Up in June
  
• Bank of England Launches 3rd Round of QE
  
• European PMI's Show Some Improvement
  
• EU Leaders Announce Measures To Ease Crisis
  
• Greece Has Formed a Government
  
• Eurozone ZEW Index Continues to Decline
  
• German ZEW Index Slides in June
  
• Greek Voters Support Euro and Bailout
  
• Spain Downgraded at Moody's
  
• Eurozone Industrial Production Declines
  
• Spanish Banks To Get 100 Billion Bailout

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