Kerber : « Schäuble deceives German taxpayers about the risks of the banking union. »

27.07.2014 | Pressemitteilungen, Verfassungsbeschwerden

In view of the German governmental and parliamentary consent to banking union which goes far beyond the authorization by article 127 TFEU, the Europolis-group has lodged a constitutional complaint at the Federal Constitutional Court. As soon as the regulation for the single resolution mechanism and the single resolution fund will enter into force the constitutional complaint will be enlarged. (read more …)

Economic and legal problems of European banking supervision

11.12.2012 | Beiträge, Kommentare, Neuigkeiten

Prof. Roland Vaubel:

Wolfgang Schäuble, the German minister of finance, has told the New York Times: “We can only achieve political union if we have a crisis” (18 November, 2011). He wants to exploit the sovereign debt crisis to confer additional competencies on the European Union and build new European institutions. He started with the temporary bail-out fund EFSF, he then managed to perpetuate it in the shape of the European Stability Mechanism (ESM), and he now pushes for a “Single Supervisory Mechanism” under the roof of the European Central Bank (ECB). After that, he intends to establish a European Rescue and Resolution Mechanism at the ESM. Other mechanisms are likely to follow if he stays in office.

German lawsuit challenges rescue fund

13.08.2012 | Presseschau, Verfassungsbeschwerden

Financial Times:

„A new challenge to the European Stability Mechanism, the eurozone’s permanent €500bn rescue fund, has been filed in the German constitutional court, seeking to delay ratification by Germany until it has sought the opinion of the European Court of Justice in Luxembourg.
[…]
Professor Markus C. Kerber, founder of Europolis, argues that the ESM will present Germany with “irreversible and unsustainable financial risks” which would leave the strongest economy in the eurozone “in a state of budgetary strangulation”.
[…]“

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