German court refers ECB bond purchases to ECJ
“Doubtful” whether PSPP is authorised by German and European law, says court
Germany’s constitutional court has said it doubts the legality of one of the European Central Bank’s (ECB) key asset purchase programmes, and referred the question to the highest court in the European Union.
There were “significant reasons” to believe the ECB’s public sector purchase programme (PSPP) contravenes both German and European law, the second senate of Germany’s constitutional court ruled today (August 15). The ruling was in response to a lawsuit filed by a number of German academics
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