Schaeuble certain German court will approve eurozone bailout fund

German Finance Minister Wolfgang Schaeuble said Monday he was sure his country's constitutional court would not block treaties establishing a permanent eurozone rescue fund and paving the way for tougher budget discipline, dpa reported. The court in Karlsruhe is due to rule on September 12 on whether the European Stability Mechanism (ESM) can proceed. The court is also to rule on the legality of a fiscal compact which gives EU institutions more powers to enforce budget discipline among member states. Schaeuble said he was 'sure' the court would approve both treaties, AFP news agency reported. 'I can't see any problem with our German constitution,' he said. The court had never blocked a European treaty, he pointed out. The deployment of the ESM, originally slated for July, is seen as a critical next step in containing the debt crisis. European Central Bank president Mario Draghi wants the ESM to take the lead on a proposed move to ease the borrowing costs of Spain and Italy through massive intervention in their debt markets.