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The German constitutional court’s judgment on the ECB’s bond purchase — Dirk Ehnts

Summary:
In today’s ruling, the Federal Constitutional Court upheld several constitutional complaints against the Public Sector Purchase Programme (PSPP), stating that the ECB’s decisions on the Public Sector Purchase Programme were incompetent, as the proportionality had not been assessed:... In my opinion, this assessment is adventurous....  Conclusion: economic ignorance has led the BVG to make a hair-raising judgement. If the ECB’s PEPP also becomes the target of a lawsuit, this could mean the end of the Eurozone. econoblog 101The German constitutional court’s judgment on the ECB’s bond purchase – a brief commentary Dirk Ehnts | Lecturer at Bard College Berlin, research assistant at the Technical University of Chemnitz, and spokesperson of the board of Pufendorf-Gesellschaft eV in

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In today’s ruling, the Federal Constitutional Court upheld several constitutional complaints against the Public Sector Purchase Programme (PSPP), stating that the ECB’s decisions on the Public Sector Purchase Programme were incompetent, as the proportionality had not been assessed:...
In my opinion, this assessment is adventurous.... 
Conclusion: economic ignorance has led the BVG to make a hair-raising judgement. If the ECB’s PEPP also becomes the target of a lawsuit, this could mean the end of the Eurozone.
econoblog 101
The German constitutional court’s judgment on the ECB’s bond purchase – a brief commentary
Dirk Ehnts | Lecturer at Bard College Berlin, research assistant at the Technical University of Chemnitz, and spokesperson of the board of Pufendorf-Gesellschaft eV in Berlin
The original post in German.
Mike Norman
Mike Norman is an economist and veteran trader whose career has spanned over 30 years on Wall Street. He is a former member and trader on the CME, NYMEX, COMEX and NYFE and he managed money for one of the largest hedge funds and ran a prop trading desk for Credit Suisse.

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