Webex
The ruling by the German Federal Constitutional Court (GFCC) on the ECB’s Public Sector Purchase Programme (PSPP) has triggered debates at various levels: Who rules whether EU institutions act within the powers transferred to them by EU member states’ legislators? Is such judgement the ultimate prerogative of the ECJ? How to prove that the Eurosystem’s PSPP is proportionate in relation to the mandate and needs of euro area monetary policy? Who needs to provide such proof? Is the Eurosystem’s – notably the Bundesbank’s – leeway in pursuing the PSPP – de iure or de facto – limited by the GFCC’s ruling? What are potential implications for the credibility of the ECB’s further policy scope?
Webinar Report (pdf)
“The Karlsruhe ruling: implications and the way forward?” by Eleonora Endlich, Rudolf Kaschnitz and Beatrix Pawelczak, Oesterreichische Nationalbank.
