European Commission President Ursula von der Leyen allowed to launch sanctions against Germany for violating European law. The reason was the Federal Constitutional Court decision on the European Central Bank issue in Karlsruhe.
According to von der Leyen, she takes this matter very seriously and intends to carefully examine all the documents that are associated with it, r with reference to the German agency DPA
TASS reported.
On May 5, the court recognized that the European Central Bank bought up government bonds of the eurozone countries that did not comply with German laws. The reason was that the FRG government and the Bundestag were not involved in checking the proportionality of the ECB decisions. This way, the court recognized the regulator actions deprive Berlin of part of economic sovereignty without the consent of the German government.
As to court decision, the federal bank of Germany is forbidden to participate in the ECB's program and buy government bonds after a three-month transitional period until the board of governors provides convincing evidence that such a practice is in its competence.
This court verdict contradicts the decision of the European Court of 2018,
Deutche Welle reported.