Euroskeptics take on German government over debt bailout

Deutsche Welle reports:

Lawyers have had plenty of time to prepare their case contesting Germany's involvement in bailouts for indebted eurozone countries. But as proceedings open, the euroskeptic plaintiffs are not confident.

The Karlsruhe-based Constitutional Court opened a hearing on Tuesday in a case challenging  government financial interventions such as the bailout packages - totaling 273 billion euros ($396 billion) - for Greece, Ireland and Portugal.

A group of German euroskeptic academics led by Joachim Starbatty filed the case last year. The group argues that creating rescue funds violates the European Union's "no-bailout clause," which says neither the EU nor member states should take on the liabilities of individual governments.

In court on Tuesday, Finance Minister Wolfgang Schäuble said "a common currency cannot survive without solidarity among its members," referring to the 17 countries that share the euro currency.

Andreas Vosskuhle, chairman of the panel of judges hearing the case, added that it was not the court's role to pass judgment on the European Union or economic strategies, but merely interpret Berlin's authority to lend to foreign countries and accept liability.

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