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Brussels begins legal action against Germany over controversial ECB ruling

The European Commission has opened an infringement procedure against Germany over a controversial ruling issued by the country s constitutional court that directly challenged the autonomy and primacy of EU law. The decision from Brussels refers to a judgement made by the German Federal Constitutional Court in May 2020. The court, which is based in the city of Karlusche, said back then that the European Central Bank (ECB) had acted beyond its competences ( ultra vires ) when it launched the Public Sector Purchase Programme (PSPP). The PSPP programme, known as quantitative easing , enabled the ECB to purchase sovereign bonds from governments with the goal of providing liquidity and stabilise the financial conditions inside the eurozone. The PSPP began in 2015 to control the aftermath of the European debt crisis and has since bought more than €2.3 trillion in debt.

Κομισιόν: «Τρέχει» τη Γερμανία για την αμφισβήτηση της νομιμότητας του προγράμματος ποσοτικής χαλάρωσης της ΕΚΤ

Κομισιόν: «Τρέχει» τη Γερμανία για την αμφισβήτηση της νομιμότητας του προγράμματος ποσοτικής χαλάρωσης της ΕΚΤ
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