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The European Commission suspects Germany of violating EU laws and is about to conduct an investigation, said European Commission Deputy Chair Věra Jourová.
The reason for the investigation was the decision of the German Federal Constitutional Court in early May that the purchase of government bonds by the European Central Bank (ECB) was partially contrary to the German constitution. The Constitutional Court has prohibited the Bundesbank from participating in the ECB buyback programs after the transitional period if the Council of the European Bank in its new decision cannot prove that its actions do not contradict the ban on monetary state financing.
The final word in the European legal system should remain with the European Court of Justice in Luxembourg and “no one else,” said Jourová. Ursula von der Leyen, President of the European Commission, also expressed her concern about the Karlsruhe court decision and the need for checks. Under applicable law, the European Commission may impose fines for violations of European law on EU countries.
Meanwhile, the decision of the German Constitutional Court was welcomed by Poland. Polish Prime Minister Tadeusz Moravecki even called it “one of the most important court verdicts in the history of the European Union.”
source: allgemeine-zeitung.de
The reason for the investigation was the decision of the German Federal Constitutional Court in early May that the purchase of government bonds by the European Central Bank (ECB) was partially contrary to the German constitution. The Constitutional Court has prohibited the Bundesbank from participating in the ECB buyback programs after the transitional period if the Council of the European Bank in its new decision cannot prove that its actions do not contradict the ban on monetary state financing.
The final word in the European legal system should remain with the European Court of Justice in Luxembourg and “no one else,” said Jourová. Ursula von der Leyen, President of the European Commission, also expressed her concern about the Karlsruhe court decision and the need for checks. Under applicable law, the European Commission may impose fines for violations of European law on EU countries.
Meanwhile, the decision of the German Constitutional Court was welcomed by Poland. Polish Prime Minister Tadeusz Moravecki even called it “one of the most important court verdicts in the history of the European Union.”
source: allgemeine-zeitung.de
