help to the editorial office! Without you, there are no 444.
The rulings of the European Union Court of Justice are binding on all national courts, said Ursula von der Leyen, President of the European Commission, in a statement released on Sunday regarding the subversive ruling of the German Constitutional Court.
This said on May 5 that the European Central Bank’s bond purchase program, now in its seventh year, had been launched irregularly and had previously been approved by an EU court in an erroneous ruling. As Péter Magyari wrote in his article detailing recent developments in the case: since the existence of the EU, it has not happened that a court in a Member State annuls one of the EU institutions. Now, however, the German Constitutional Court has done so immediately with two (the ECB and the EU Court of Justice). If this happens from now on, the viability of the EU will be compromised.
Photo: OLIVIER MATTHYS / AFP
In a ruling on Tuesday, the German Constitutional Court set a three-month deadline for the European Central Bank to justify its bond purchase program announced in 2015 to support the economic recovery, otherwise the German central bank will no longer be able to participate .
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. The European Commission defends and defends three principles that
- falls within the exclusive competence of the monetary policy of the European Union,
- EU law takes precedence over national law, and
- The decisions of the Court of Justice of the European Union are binding on all national courts.
Von der Leyen stated that the right to have the last word on EU law always belongs to the Luxembourg-based court of the European Union.
The European Commission is responsible for ensuring the proper functioning of the Eurosystem and the EU legal system, so the EU Commission will start a detailed analysis of the decision of the German Constitutional Court and examine what measures are needed in light of its Outcome.
According to the committee chair, the response may even be an infringement procedure.
The European Union is a community of values and laws that we must protect at all times. That is what holds us together, that is why we are fighting, “said Ursula von der Leyen. (MTI)
