MOSCOW, March 18 (RAPSI) – Germany’s Constitutional Court held Tuesday that various proceedings challenging the European Stability Mechanism were inadmissible or unfounded, according to a statement released by the Court.

The European Stability Mechanism (ESM) was established in 2012 to provide financial assistance to member states within the euro area experiencing financial difficulties.

European bailout funds are financed through the ESM, which can lend up to EUR 500 billion total, The Economist reported in October. At the time, EUR 100 billion had reportedly been earmarked for the recapitalization of Spain’s financial sector, and EUR 9 billion had been set aside for Cyprus, leaving EUR 391 billion total.

As reported by Bloomberg, the ruling came as part of a complex web of cases brought by politicians and academics upset with Germany’s handling of the EU debt crisis.

“These cases once again show how the political and financial tackling of the crisis has been challenged all European and German institutions… It’s still imperative to find a sustainable, realistic, democratically founded and constitutional way leading out of the crisis,” Judge Andreas Vosskuhle said while delivering the ruling, according to Bloomberg.

According to the court statement, although some of the complaints involved in the ESM actions have been dismissed, the court noted the imperative of ensuring that arrangements are made under budgetary law to: “ensure that possible capital calls pursuant to the ESM Treaty can be met fully and in time within the agreed-upon upper limits, so that a suspension of Germany’s voting rights in the ESM bodies is reliably excluded.”