Economic policy ‘for politicians, not judges’

GERMANY’S finance minister defended the rescue packages for Greece and other eurozone countries at a supreme court hearing yesterday, as opponents argued the bailouts violated German and European law.

Wolfgang Schaeuble told the Federal Constitutional Court that “the stability of the euro is of paramount significance.”

He pointed to the risk of financial instability across Europe and beyond at the time the government signed on to the initial Greek rescue of May 2010 and, shortly afterward, the wider eurozone fund.