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In a verdict issued on Tuesday, the German Constitutional Court set a deadline of three months for the European Central Bank to justify its 2015 decision.
otherwise, the German central bank will no longer be able to participate in it.
In a statement, the chairman of the EU committee emphasized that the German Constitutional Court decision puts two aspects of the European Union, the EU’s single currency, the euro system and the European legal system in the spotlight. In this context, he affirmed that the European Commission defends and defends the three principles that the monetary policy of the European Union falls under its exclusive competence, that EU law takes precedence over national law and that the decisions of the Court of Justice they are binding on all national courts. He claimed that the last word on EU law always belongs to the Luxembourg-based European Union court.
He recalled that the European Commission was responsible for ensuring the proper functioning of the Eurosystem and the EU legal system. Therefore, the EU committee will begin a detailed analysis of the decision of the German Constitutional Court and examine what steps are necessary in light of its outcome, which may even include the possibility of initiating infringement procedures, he said. “The European Union is a community of values and laws that we must protect at all times. It holds us together, this is what we are fighting for,” said Ursula von der Leyen.
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