Vasiliki Poula writes about the seminal decision of the German Federal Constitutional Court, ruling that the European Central Bank (ECB) exceeded its powers with its Public Sector Purchase Programme (PSPP), in an article for the English Edition of Kathimerini. The Court of Justice of the European Union (CJEU) has explicitly stated that the PSPP is within the ECB’s mandate and therefore should not be challenged. However, the Karlsruhe judges characterized the CJEU decision ultra vires, meaning beyond its authority and as such, the German Court refused to be bound by it. The author points out that this decision comes at a critical juncture for the EU, when expectations for economic solidarity and political initiative are high. If the legal instruments that could meet these expectations are undermined then, inevitably, the weakest member states will pay the price, concludes Vasiliki Poula.
You can find the article in English here.