Thursday, August 13, 2020

Secret papers of the ECB arrived in the Bundestag

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The Frankfurt skyline and ECB headquarters at sunset
Picture: dpa

The central bank has compiled documents to end the dispute with the Federal Constitutional Court. Now they have arrived at the Bundestag. The ECB itself explains its arguments.

Dhe German Bundestag has now received the documents from the European Central Bank that are intended to end the dispute with the German Federal Constitutional Court. This is evident from documents that are available to the FAZ. The papers can be accessed by Members of Parliament from Monday onwards.

At the same time, ECB Executive Board member Isabel Schnabel gave a speech explaining how the ECB is considering the proportionality of bond purchases that the court requested – albeit based on the current crisis program PEPP, not the old program criticized by the Constitutional Court.

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