According to Dow Jones Newswires, the German Federal Constitutional Court on the 14th, the Court has no reason to delay ruling on the permanent European stability mechanism (ESM) and the legitimacy of the EU's newest "fiscal contract" originally scheduled to be released on September 12.
 
According to the German "Handelsblatt" reported the German think tank Europolis has the German Constitutional Court a request to require the court to wait until a higher level of the European Court of Justice (ECJ) decision to make the ESM whether legal ruling.
 
European Court of Justice has received the request of the Irish courts to request a preliminary ruling on the legality of the ESM. The European Court of Justice spokesman said: "We are considering this request," conventional decision process of the European Court of Justice of 18 months, but the "expedited procedure" this time can be shortened to a few months to the British "Financial Times".
 
German Federal Constitutional Court on July 10 the end of the first hearing for the ESM and the "financial contract", and announced that the final decision of the Court date may be extended to a few months later. Andreas Fox Qu Le, the German Constitutional Court, taking into account the complexity of the situation, the court may be carried out "in-depth check could take two or three months. According to the Wall Street Journal reports, the German Constitutional Court announced a ban on the implementation of the ESM, the judgment will be valid for up to six months, which means that the decision to the Court again on the ESM of constitutionality time as early as the end of the year.
 
As a permanent euro zone rescue mechanism, ESM was originally scheduled for July 1 this year, came into effect, designed to provide financial support to the difficulties in financing the euro area members of the high debt and bank, the current provisions of the mechanism of borrowing capacity of ? 500 billion. According to EU regulations, start ESM funded more than 90% of the share of member countries approved subject to the accounting for ESM. As the euro zone's number one economy and ESM-funded large, the German approval of the ESM in force. Germany has ratified the ESM need to Parliament by both houses and signed by the President.
 
German Houses of Parliament on June 29 adopted a two-thirds majority of the ESM and financial contracts, but the President of the high g should the Constitutional Court has ordered temporarily refused to sign, to the Court sufficient time to conduct hearings and investigations.



Other News:
ThyssenKrupp will continue to cut production in September
German Constitutional Court is expected in September ＂release＂ ESM
Australia Port Hedland iron ore shipments continued to decline
Brazil introduced a package of stimulus measures the first injection of $ 50 bil
Resolve the steel market and steel logistics park
Law enforcement officers recently discovered counterfeit bearings of Harbin Bear
Tata Steel fell 89 percent due to affect the profitability of the European marke
Stone steel cylinder rod steel successfully replace the imported material into t