After the German Federal Constitutional Court had given its consent to the ratification of the ESM Treaty in an interim proceeding with judgment dated 12 September 2012, subject to several precautionary provisions, the court audience of the main action took place on the 11–12 June 2013. Apart...

The overall risk to be borne by Germany in case of further bailouts financed through the EFSF and ESM remains an intriguing question. The German Constitutional Court’s preliminary ruling on 12 September 2012, capping Germany’s ESM risk exposure at €190 billion, has not rendered further...

We collect more than eight million German-language tweets on the war in Ukraine and use a machine learning approach toconstruct a daily index of uncertainty about the war. In an empirical model, we show that fluctuations in uncertainty have strong effectson financial markets and real economic...