Bond-Buying programme: the ECB Boss armed with Karlsruhe holds for settled

ECB President Christine Lagarde holds the conflict with the Federal constitutional court on the bill ions heavy bonds programme of the Bank of purchase for beig

Bond-Buying programme: the ECB Boss armed with Karlsruhe holds for settled

ECB President Christine Lagarde holds the conflict with the Federal constitutional court on the bill ions heavy bonds programme of the Bank of purchase for beige. The German authorities had found an intelligent and elegant way, a solution, said Lagarde on Saturday on an Online discussion of the economic forum Rencontres Economiques d'aix-en-Provence according to a simultaneous translation. "We at the ECB, this approach have supported."

The Central Bank has oriented its monetary policy decisions to the criteria of proportionality. Lagarde also reiterated that the ECB, the Jurisdiction of the European court of justice, lying under, and not the constitutional courts of the member countries.

The Federal constitutional court had ruled in may, the "PSPP"-called bond-buying program of the ECB as, in part, unconstitutional and required that the monetary authorities will have to demonstrate within three months of the proportionality of the purchases. Otherwise, it says the Bundesbank, after a transition period to the purchases to participate.

The governing Council of the ECB has now released the documents for the Federal government and the Bundestag, to prove the proportionality of the purchases. After the examination of the Federal Finance Minister, Olaf Scholz, keeps solved the conflict with a Karlsruhe for. The Bundestag, too, summed up, in the meantime, with a clear majority, a decision with which the documents of the ECB have been appreciated. So are also met from the point of view of the Bundestag, the requirements of the Karlsruhe judges.

Updated Date: 04 July 2020, 09:19

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