There's me thinking that EU law held supremacy over national law. If the ECB's actions are in accordance with EU law then surely Germany must comply.
It's nice to see German feathers being ruffled from actions taken by an EU institution. Warms the cockles of me heart, so it does.
The constitutional Court has told the European Court of Justice to do one in spades, stating it has misinterpreted the law and acted outside its powers.
https://www.lexology.com/library/de...ay 2020, the,Sector Purchase Programme (PSPP).
On 5 May 2020, the German Federal Constitutional Court issued a judgment in which it declared a European Court of Justice ('ECJ') decision ultra vires in Germany. The ruling focused on the legality of aspects of the European Central Bank's ('ECB') Public Sector Purchase Programme (PSPP). The legality of this programme had previously been referred to the ECJ, wherein it had been determined lawful.
Ultra vires means "acting or done beyond one's legal power or authority".
The EU has responded by saying the German Constitutional Court was acting outside its powers.
The European Commission responded to the German Federal Constitutional Court ruling and stated that “notwithstanding the analysis of the detail of the German constitutional court’s decision today, we reaffirm the primacy of EU law and the fact that the rulings of the European Court of Justice are binding on all national courts.”
If the constitutional court upholds its judgement next month, we're heading for a very entertaining bout of fisticuffs between Germany and the European Commission.
Note that the constitutional court has not directly challenged the ECJ's supremacy - it has said it is in legal error. Which leaves the ECJ on shaky ground because past evidence suggests they bend EU law out of shape every time the European Commission is challenged. And this is going to be fought on points of law.
The German worm has turned.
Wordsmith