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  Economics
ESM complaint reaches constitutional court
19/10/2012   |   03:55 PM | World News
تصغير الخطالشكل الأساسيتكبير الخط
VIENNA, Oct 19 (KUNA) -- An individual complaint about the euro rescue umbrella (European Stability Mechanism, ESM) from the leader of the right-wing opposition Freedom Party (FP) Heinz-Christian Strache has reached the constitutional court (VfGH).
VfGH spokesman Christian Neuwirth told the APA that the complaint is currently being examined.
Strache said that he did not expect his individual complaint to go very far. However, his party as a whole intends to combat the ESM as well. The FP's complaint is to be handed in next week. Strache is due to hold a press conference on Friday on the subject The ESM is planned to protect euro crisis countries like Greece from a collapse through unpayably high loan debts. With the vote, the euro countries are obliged to endow the ESM with 80 billion euros share capital, and to assume up to 700 billion euros in liabilities.
Austria's contribution to the ESM is to be 19.48 billion euros, of which 2.
23 billion is to be paid in cash. (end) amg.ibi KUNA 191555 Oct 12NNNN
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