Helmut Siekmann on CNBC about the green light for the ESM

The German Constitutional Court confirmed the legality of the permanent European bailout fund ESM.

With more the 37,000 citizens joining, it was the largest constitutional complaint in German history. The budgetary autonomy of the German Bundestag was sufficiently safeguarded, the court said.

After the preliminary approval of the ESM in September 2012 the decision was widely expected and no big surprise Helmut Siekmann said. However, the crucial point is the separation of the decision about the OMT program which was transferred to the European Court he said in an interview on CNBC.