In May 2020, the German Constitutional Court refused to comply with the European Court of Justice’s opinion on the European Central Bank’s repurchase of public debt.
After the country’s constitutional court issued a controversial judgment in 2020, the European Commission will initiate the infringement procedure against Germany on Wednesday, June 9.
The judge in Karlsruhe (Western Germany) requested the European Central Bank (ECB) on May 5, 2020 to certify that its public debt repurchase complied with its authorization and refused to comply with the court’s opinion. The European Union verified the ECB’s plan at the end of 2018. The German Constitutional Court was detained by several Eurosceptic applicants, believing that these debt repurchases had a harmful effect on the entire economic sector, especially for depositors who were punished for extremely low interest rates.
The infringement procedure consists of several stages and may lead to submission to European justice. Just a few days after the German Constitutional Court made the judgment, the European Commission raised this threat. Poland and Hungary did not ignore the problems between these two countries in terms of the rule of law, Brussels and European justice.The head of the Polish government, Mateusz Morawiecki, praised Germany’s decision as “One of the most important judgments in EU history”.
According to a document obtained by Agence France-Presse, explaining the reasons for this infringement procedure, “This judgment raises serious concerns about its compliance with EU law, especially the general principles of autonomy, priority, efficiency and uniform application of EU law, as well as the jurisdiction of the court.” European.With him “Constitutes a dangerous precedent for Union Law”.