The highest German court has dismissed a legal challenge to the European Central Bank’s asset purchases, removing a possible stumbling block for eurozone monetary policy.
Today (May 18), the Bundesverfassungsgericht – the German constitutional court – declared the case “inadmissible”. It ruled that the complainants were asking the court to exceed its powers, because the German parliament had already deemed the ECB’s legal justification for the asset purchases to be sufficient.
The case –
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