Hungarian Yearbook of International Law and European Law

Miscellaneous

The PSPP Judgment of the German Federal Constitutional Court

The Judge’s Theatre According to Karlsruhe

Keywords German Constitutional Court, basic law, ultra vires, European Central Bank, primacy of Union law
Authors Maria Kordeva
Author's information

Maria Kordeva
Maria Kordeva: PhD in Public Law (University of Strasburg/University of Constance), lecturer and research associate, Saarland University, Saarbrücken.
  • Abstract

      The PSPP decision of 5 May 2020 rendered by the German Federal Constitutional Court (FCC) does not constitute a break with the earlier jurisprudence of the FCC elaborated since the Lisbon Treaty judgment of 30 June 2009. Even though qualifying the acts of the Union as ultra vires has been likened to a warlike act, one should beware of hasty conclusions and look closely at the analysis of the Second Senate to form a moderate opinion of this decision decried by European and national commentators. Should the PSPP judgment of the Federal Constitutional Court be classified as “much ado about nothing”, despite the procedure started by the European Commission, or, on the contrary, will the CJEU in the next months, sanction Germany for its obvious affront to and breach of the principle of the primacy of Union law? The (final?) power grab between the European and national courts remains to be seen. We can criticize the German FCC that it put the fundamental principles of the Union in danger. Yet, it is worth reflecting on the possible encroachment of competences by European institutions, because, in this case, the red line between monetary policy and economic policy is more than thin.

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