German Top Court Orders ECB To Justify Bond-Buying Spree
Law360, London (May 5, 2020, 4:46 PM BST) -- Germany's highest court ruled Tuesday that the country's central bank must stop participating in Europe's €2.1 trillion ($2.28 trillion) government bond-buying program unless the European Central Bank justifies its economic stimulus measures within three months.
The German complainants said the bond-buying program violates a prohibition that makes it illegal for the ECB, pictured, to help finance the debt of member states. (AP) The Second Senate of the Federal Constitutional Court in Germany ruled that the Berlin government and the Bundesbank violated the rights of more than 1,700 complainants, who were led by German economists and lawyers, by failing to challenge the...
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