The German Constitutional Court in Karlsruhe has accepted that Mario Draghi is "free" to act but that the liabilities of Germany amount to 190 Billion EUROS.
This decision presupposes that the Leaders of the "EUROZONE" will "give their blessing" to what Draghi wants to undertake, namely "buy up short term national debt" (debt with less than three years before redemption) of EURO countries which require help.
Such action could in fact become a nice source of income for the EUROPEAN CENTRAL BANK !!! If National debt is quoted on Stock exchanges with a discount beyond what would be expected before the next interest payment, the Draghi operation would be a winner and stabilize the cost of the credit necessary for the new financing required to repay current debt falling due for repayment !!!
It is not surprising that the IMF wants to participate in such an operation !!!
However, what the Constitutional Court in Karlsruhe has clearly said is that the German Liability is limited to 190 Billion EUROS !!! Before the EUROZONE Leaders meet to approve the "Super" Draghi proposition, the limit of the obligations of each EUROZONE country must also be calculated and spellt out !!! Every country wants to know what their ultimate liability could amount to !!!
Germans quite rightly feel abused and strangled by the obligations they face to save the EURO !!! Where do their efforts stop ?
This also means that the proposititions of Marius Draghi and any limitations, must be defined !!! This is fundamental for the future of any EUROZONE !!!
When these problems have been been addressed, it will perhaps be necessary to revise the proposed details of the "Proposed Treaty of Monetary Stability" of the EUROZONE !!!
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