“The Bundesbank is bound by our decision, but it has to determine on its own responsibility whether the ECB’s reasoning meets our requirements or not,” said constitutional judge Peter Huber
Bild: Picture-Alliance
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The constitutional judge Peter Huber talks about the busyness after the fundamental judgment on the central bank’s bond purchases, the tasks of the Bundestag – and a possible control of compliance with the judgment.
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Mr. Huber, after a long hesitation, the EZB now moving towards the Federal Constitutional Court. The Governing Council decided on Thursday to provide the Bundestag with documents to document the proportionality test you requested in the ECB judgment on the PSPP bond purchase program. Are you satisfied with it?
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Corinna Budras
Editor in business and for Frankfurter Allgemeine Objection.
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I can’t tell you that. The Federal Constitutional Court has given up the federal government and the Bundestag to insist that the ECB subject its bond purchase program to a proportionality test. If it does not do this, the Bundesbank may no longer participate in the program. That was the core of our judgment of May 5th. The Bundesbank is bound by our decision, but it must determine on its own responsibility whether the ECB’s reasoning meets our requirements or not. The Federal Constitutional Court is no longer involved.
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