Discussions about the legality of ECB bond purchases

by Thorsten Koch

Vítor Constâncio, long-time Vice President of the European Central Bank (ECB), has expressed fears that the Federal Constitutional Court’s ruling on bond purchases could jeopardize the independence of the ECB. Should the ECB be subject to judgments by national courts, “this could severely restrict monetary policy”.

EU Commission President Ursula von der Leyen (CDU) has received criticism from the CDU for her criticism of the Federal Constitutional Court. Friedrich Merz, one of the candidates for the CDU presidency, defended the decision of the Federal Constitutional Court and contradicted von der Leyen: the statement that European law always takes precedence over national law, “in this apodictic form, is simply not correct”. According to the newspapers of the Funke media group, Merz said that the EU member states are the main bearers of the EU, and that national constitutional courts have the right, and duty, to measure these bearers against the standards of national constitutional law – even within the framework of the European institutions. Von der Leyen had said that the European Court of Justice (ECJ) always had the last word on EU law.

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