The German government is ready to answer questions of the European Commission regarding the recent decision by the country's constitutional court to declare that the European Central Bank's (ECB) public sector asset-purchase program were partially violating the country's basic law, the government's spokesman, Steffen Seibert, said on Monday
BERLIN (Pakistan Point News / Sputnik - 11th May, 2020) The German government is ready to answer questions of the European Commission regarding the recent decision by the country's constitutional court to declare that the European Central Bank's (ECB) public sector asset-purchase program were partially violating the country's basic law, the government's spokesman, Steffen Seibert, said on Monday.
European Commission President Ursula von der Leyen on Sunday announced that the commission could begin pursuing a legal case against Germany, which may potentially result in sanctions against Berlin.
"It is undoubtedly the purpose and the right of the European Commission to monitor the proper recognition and implementation of European law. It is understandable that, from the European Commission's point of view, the decision of Karlsruhe [the seat of the German constitutional court] raises questions. It [the commission] will ask the federal government these questions, and [the government] will answer them," Seibert said during a press briefing.
Meanwhile, Dennis Kolberg, the head of the press department of the German Finance Ministry, said that the government would follow the court's decision and implement all the prescribed measures.
On May 5, the German constitutional court ruled that the ECB had overstepped its authority and gave three months for the bank to prove the necessity of the bond-buying program in question.
