Compatibility of the European Stability Mechanism (ESM) with the German constitution - Statement by Bernard Cazeneuve (September 12, 2012)
The German Constitutional Court in Karlsruhe has today made a very important and long-awaited decision.
The court recognized in principle the compatibility of the European Stability Mechanism (ESM) with the German constitution.
This decision, which authorizes Germany to ratify the ESM treaty, paves the way for this tool to come into force swiftly.
The work of stabilizing and strengthening the Euro Area must now continue.
I welcome this decision, which allows us to move forward along the path of the Euro Area’s mutually-supportive integration, as President Hollande requested.