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EU to launch legal proceedings against Germany over ECB ruling: sources

Jun 8 (.) – The European Commission will launch legal proceedings against Germany on Wednesday, to investigate whether a German court violated European Union rules by challenging central bank bond purchases already approved by the bloc’s superior court, they said. on Tuesday two sources.

In May 2020, the Constitutional Court of Germany ruled that the European Central Bank exceeded its mandate with the purchase of bonds. However, the EU’s highest court had already given the green light to the ECB’s scheme.

The European court admonished the German judges for their ruling, arguing that only he has the right to decide whether the community bodies violate the bloc’s rules.

The two sources said the Commission, the EU’s executive arm, is expected to agree on Wednesday to send a letter to Berlin notifying it that it is investigating whether the German court ruling violated the bloc’s rules.

Such a letter is the first stage in a process that may ultimately lead to the Commission asking the EU Court of Justice to impose sanctions.

One of the sources said the ruling was seen in Brussels as a dangerous precedent for EU law, which could lead other member countries to assert the authority of their courts over the EU court.

(Reporting by Sabine Siebold and Jan Strupczewski; edited in Spanish by Carlos Serrano)

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