The Way is Clear for ESM and Fiscal Treaty
Enlarge image (© picture-alliance/dpa) Chancellor Angela Merkel welcomed the decision of the German Federal Constitutional Court to uphold the European Stability Mechanism (ESM) and the fiscal treaty in Germany. “That is a strong signal to Europe! Germany is assuming its responsibility,” said the chancellor.
In its decision, the Federal Constitutional Court affirmed the German government's comprehensive strategy to overcome the euro-zone crisis: The ESM and the fiscal treaty abide by the constitution. The decision demonstrated that German accountability is bounded, and that the rights of the parliament are preserved. Neither the democratic rights of those citizens who filed objections nor those of legislators or caucuses within the Bundestag are injured. The court rejected proposals to issue an interim injunction.
A good day for Germany and for Europe
The fiscal pact and the ESM are fundamental elements of Germany's strategy to overcome the euro-zone crisis. The fiscal pact keeps euro-zone states on a lasting course to consolidation. With the ESM, the euro zone has a powerful implement at its disposal to collectively avert dangers to the monetary union.
Solidarity, practiced in league with one another and with clear conditions and requirements,dsfadsfdsfkjjdasf is the complement to individual responsibility and structural reforms at the level of the member states. “It is a good day for Germany and a good day for Europe!” stated Chancellor Merkel.
Upward liability in line with government
The court did, however, attach one condition to ratification of the ESM contract: It must be secured in “international law” that Germany's liability limit of 190 billion euros not be exceeded without approval of the German representative. This accords with the view held by the government and will thus be implemented.