Whatever it Takes? Regarding the OMT Ruling of the German Federal Constitutional Court

Journal of International Economic Law, 2014, Forthcoming

12 Pages Posted: 15 Oct 2014

See all articles by Samuel Dahan

Samuel Dahan

Conseil d'Etat; Cornell University; NYU Law Jean Monnet Center

Oliver Fuchs

Independent

Marie-Laure Layus

Conseil d'Etat

Date Written: October 3, 2014

Abstract

On 14 January 2014, the Bundesverfassungsgericht ruled on the European Central Bank’s OMT programme. This ruling is unprecedented in a number of respects. In ruling on sovereign debt purchasing by the ECB, the Bundesverfassungsgericht took a position on the current incompleteness and asymmetry of the Economic and Monetary Union as well as on its future course. Furthermore, in issuing this ruling, the German Constitutional Court established itself as overseer of the European Union’s competence while for the first time submitting itself to the preliminary ruling mechanism of the Court of Justice of the European Union.

Keywords: Central Banking, EU Law, German Constitutional Law

Suggested Citation

Dahan, Samuel and Fuchs, Oliver and Layus, Marie-Laure, Whatever it Takes? Regarding the OMT Ruling of the German Federal Constitutional Court (October 3, 2014). Journal of International Economic Law, 2014, Forthcoming . Available at SSRN: https://ssrn.com/abstract=2504976

Samuel Dahan (Contact Author)

Conseil d'Etat ( email )

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Cornell University ( email )

Ithaca, NY 14853
United States

NYU Law Jean Monnet Center ( email )

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Oliver Fuchs

Independent ( email )

No Address Available
United States

Marie-Laure Layus

Conseil d'Etat

1 Place du Palais Royal
Paris, 75001
France

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