On Tuesday 5 May 2020, the Federal Constitutional Court ruled that the bond purchase programme of the European Central Bank (ECB) to stabilise the euro is in part unconstitutional. According to the judges, the purchase of government bonds by the ECB partly violates the German constitution. The lawyers attribute this to the fact that the Federal Government and Parliament have not examined the decisions. Dr Christoph Schalast, Professor for Mergers & Acquisitions, Business Law and European Law at the Frankfurt School of Finance & Management, is surprised by the judgement and criticises the decision. A detailed assessment by the expert can be found in the video (in German).
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