Europe Fund Hits Snag at German High Court
July 10, 2012
By TODD BUELL and FRIEDRICH GEIGER
KARLSRUHE, Germany—Europe’s plans to launch a permanent bailout fund and cement a European fiscal pact faced another roadblock Tuesday, as Germany’s highest court resisted calls to speed its decision on whether the euro-zone’s main crisis-fighting tools are compatible with the country’s constitution.
Germany’s highest court, the Federal Constitutional Court, heard testimony on several petitions that seek to keep the €500 billion ($615 billion) European Stability Mechanism from beginning its work until the court has time to rule on the legal issues in the case.
Government officials warned….”