Schäuble probably implements the implementation of the Karlsruhe ECB judgment

Wolfgang Schäuble

The President of the Bundestag wants to implement the decision of the Federal Constitutional Court.

(Photo: dpa)

Berlin Bundestag President Wolfgang Schäuble has made the judgment of the Federal Constitutional Court on the bond purchases of the European Central Bank (ECB) a top priority, according to the “Süddeutscher Zeitung”. The CDU politician had founded a strictly confidential round of talks, which should quickly agree on the implementation of the complicated requirements of the court, the newspaper reported on Thursday in advance. Schäuble saw it as his duty to comply with the request made to the Bundestag, it said, citing participants.

Each group was represented in the round, as were the committees for Europe, Law, Budget and Finance. For the first time, advice was given in the past week of the session, and the next meeting was scheduled for next Thursday. Schäuble’s round had to agree on the procedure next week so that Parliament could discuss the answer before the summer break.

At the beginning of May, the Federal Constitutional Court classified the multi-billion euro purchases of government bonds by the ECB as partially unconstitutional. This was against the European Court of Justice (ECJ), which came to the conclusion at the end of 2018 that the purchases did not violate EU law. The Governing Council had to show in a new decision that the purchase program was proportionate, it was said from Karlsruhe. Otherwise, the Bundesbank is prohibited from participating in it after a transition period of no more than three months. The Federal Government and the German Bundestag are obliged to oppose the previous handling of the ECB buy-out program.

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