European Commission President Ursula von der Leyen does not rule out launching a sanctions procedure against Germany for violation of the legislation of the European Union in connection with the decision of the Federal constitutional court in Karlsruhe on the European Central Bank (ECB). The President of the European Commission notifies the member of the European Parliament from the European green party Sven Giegold. The last previously urged the European Commission to conduct checks for violation of Germany’s pan-European legislation.
The court in Karlsruhe on may 5 expressed the view that a multi-billion dollar ECB buying government bonds of Eurozone countries implemented in 2015 that will revive the EU economy, contrary to the basic law of Germany. The fact that the verification of the legality of ECB’s decisions is not connected, the German government and the Bundestag. In fact, the court reiterated that the ECB’s actions effectively deprive Berlin of the economic sovereignty without the consent of the German government
Thus, the German court did not agree with the decision of the European court which ruled in 2018 that the practice of the ECB for buying bonds, which is particularly critical in Germany legal. The German Bundesbank is now forbidden to participate in the program of the ECB for buying government bonds after a 3-month transition period, while the governing Council does not submit compelling evidence that such a practice is in its competence.
Ursula von der Leyen promises to carefully analyze the decision of the German court, stating that it “applies to this case very seriously”. According to her, the last word in terms of EU legislation lies with the European court.
The decision of the German court can cause a serious legal split in the EU and intensify contradictions between donor countries (Germany and the States of Northern and North-Western Europe) and recipient countries of funds from the budget of the EU (countries of Eastern and Southern Europe). Particularly acute this conflict is now when the EU countries are discussing plans for financing European programs of recovery after the pandemic coronavirus COVID-19.