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
Date Written: October 3, 2014
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: Suggested Citation