Pakistan's Supreme Court has ruled that former military ruler Pervez Musharraf trampled the constitution when he imposed emergency rule two years ago. The court, however, has left open whether Musharraf should be punished, as under the constitution it is up to parliament to decide whether to lay treason charges against the ex-president. Hoping to secure a second term before giving up his dual role as army chief, Musharraf purged judges who stood in his way, suspended the constitution and ordered the arrest of hundreds of political opponents in November 2007. On July 31, a panel of 14 judges, headed by Chief Justice Iftikhar Chaudhry, struck down all constitutional amendments made by Musharraf during the six weeks of emergency rule and dismissed those judges who swore allegiance to him during that period. Musharraf, who came to power in a military coup in 1999, resigned almost a year ago to avoid impeachment by a parliament dominated by opponents elected in February, 2008. For the past two months, Musharraf has been living in London, prompting speculation that he is preparing to stay in exile. While Musharraf is regarded as “yesterday's man”, analysts say his case will have to be handled with care, as Pakistan can ill-afford a political crisis while fighting a Taleban-inspired insurgency and struggling to keep its economy afloat. Here are some implications of the judgment. What is in store for Musharraf? Chief Justice Chaudhry turned down a request for the Supreme Court to try Musharraf for treason, as the responsibility lies with parliament to decide whether to lay such charges. A spokesman for President Asif Ali Zardari welcomed the court ruling, saying it was a triumph for democracy and would deter military dictators in future. But analysts doubt whether the fragile civilian government will want to risk dragging Musharraf to court, as Zardari has his own reasons to be wary of the judges. Nor will the powerful army, which has retreated from politics, want to see an old chief punished. Most observers predict Musharraf will settle quietly somewhere in Europe. Repercussions for Zardari? While annulling most actions taken by Musharraf under emergency rule, the Supreme Court carefully avoided undoing those that would have destabilized the new democratic order. In its judgment, the court validated general elections called by Musharraf, the formation of the government led by Zardari's party that was sworn in by Musharraf, and parliament's election of Zardari as president after Musharraf's resignation. Yet, most analysts say Zardari won't want Musharraf tried because he and his late wife, Benazir Bhutto, benefited from an amnesty granted by Musharraf in 2007 that protected them from prosecution in old corruption cases. In its ruling, the Supreme Court referred all presidential orders passed by Musharraf during the emergency, including the amnesty, known as National Reconciliation Ordinance, to parliament for approval. Zardari can either issue a fresh ordinance, to protect himself, or refer it to parliament where it is likely to be approved as the government holds a majority. Without this protection, Zardari could be vulnerable from the courts, and to a challenge from his main rival – former prime minister Nawaz Sharif. By championing Chaudhry's restoration as chief justice, Sharif became Pakistan's most popular politician, while Zardari's reputation was hurt by his reluctance to reinstate the judge. Zardari reinstated Chaudhry and other deposed judges in March after Sharif threatened to storm Islamabad with tens of thousands of protesters. There is speculation that Zardari obtained some assurance that Chaudhry would avoid actions that could bring down his presidency.