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.
German top court rejects complaint against ECB s bond-buying scheme euractiv.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from euractiv.com Daily Mail and Mail on Sunday newspapers.
Germany s top court rejects complaint against ECB s bond-buying scheme theglobeandmail.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from theglobeandmail.com Daily Mail and Mail on Sunday newspapers.
Germany s top court rejects complaint against ECB bond buys reuters.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from reuters.com Daily Mail and Mail on Sunday newspapers.