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G. L. Tosato - The Decision of the German Constitutional Court on the Public Sector Purchase Programme of the European Central Bank: Preliminary Observations

On 5 May 2020, the German Constitutional Court (GCC) issued a long-awaited judgment in which it jointly addressed several constitutional complaints linked to the Public Sector Purchase Programme (PSPP) of the European Central Bank (ECB). In this decision, the GCC chastises the ECB for inadequately justifying its interventions and sharply criticizes the European Court of Justice (ECJ) for providing a flawed interpretation of EU Law. Yet, it does not conclude definitively that the PSPP is illegitimate.  

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