A German high court decision on bailout funding and Greek coalition infighting this week threaten to derail the European Central Bank's bid to wrest control over the euro area's three-year-old crisis.

Germany's Federal Constitutional Court in Karlsruhe will decide whether to suspend the 500 billion-euro ($639 billion) European Stability Mechanism on Sept. 12. In Athens, Prime Minister Antonis Samaras's governing partners balked at budget cuts demanded by the country's so-called troika of creditors.

In a week of activity that may determine the course of the crisis, the court's decision comes on the same day as Dutch voters decide whether to back parties questioning an expansion of European powers and as the European Commission issues a proposal for an integrated banking system.