Europolis Pressemitteilung: Die Allmacht der EZB vor dem Europäischen Gerichtshof

9.07.2018 | Allgemein, Pressemitteilungen

Am 10.07. findet in Luxemburg die mündliche Verhandlung im Vorabentscheidungs-verfahren zu den Anleihekäufen der EZB (QE-Programm) statt.

Sowohl die EZB als auch die EU-Kommission haben in ihren Stellungnahmen versucht, das OMT-Urteil in dem laufenden Verfahren über die Rechtmäßigkeit des PSPP zu instrumentalisieren. Nach ihrer Meinung gibt es kaum eine Grenze für die Offenmarktpolitik der EZB. (Weiterlesen …)

Europolis press release: The omnipotence of the ECB to be challenged by the European Court of Justice?

Press release: Draghi provokes Germany

26.10.2017 | Allgemein, Pressemitteilungen

The outspoken reluctance of the ECB president to revise the perpetual crisis mode of monetary policy increasingly destabilises the Eurosystem

Once again Mr. Draghi and Monsieur Coeuré have won the debate over QE in the Governing Council. Contrary to what has been requested by the representatives of traditional hard currency countries, the Asset Purchase Programme (APP) will remain open-ended. Far more important is Draghi’s confirmation that only the net asset purchase will decrease from January 2018 onwards. (Read more …)

Press release

16.08.2017 | Allgemein, Beiträge, Finanzkrise, Pressemitteilungen

Through its decision to submit the QE program of ECB to a preliminary ruling by the European Court of Justice, the German Constitutional Court documents its substantiated doubts as to the compatibility of PSPP with a general prohibition of monetary public financing pursuant article 123 TFEU.

The German court qualifies the unbearable risks of the program which in case of its prolongation would violate the budgetary prerogatives of the German parliament. (Read more …)

Press release: Prof Kerber Requests “Freedom for the Bundesbank”

30.05.2017 | Allgemein, Beiträge, Finanzkrise, Klage gegen die EZB, Pressemitteilungen

Request for an injunction to allow the Bundesbank’s withdrawal from the APP-Programme

  1. Despite the fact that the Eurozone economy is thriving and the price stability target of 2% has been reached, the ECB and the Eurosystem have continued to purchase bonds at a monthly rate of 60 bn Euros. This procedure poses unbearable risks: not only would 12 % of the PSPP/CSPP bonds be subject to default risk. The bonds purchased by the National Central Bank on behalf of the ECB would also be at risk. (Read more …)

Pressemitteilung: Freiheit für die Bundesbank

Europolis : le professeur Kerber demande « la liberté pour la Bundesbank »

Európolis: El profesor Kerber pide „Libertad para el Bundesbank“

Press release: The German Constitutional Court does not surrender

21.06.2016 | Allgemein, Pressemitteilungen

On the contrary, its ruling reinterprets the ECJ’s decision and submits ECB’s OMT programme to stricter conditionality

Though formally accepting the ruling of ECJ on OMT which gave clearance to ECB’S OMT programme, the German Constitutional Court rules that Bundesbank is only allowed to implement the OMT programme if the volume of bond purchases is limited from the beginning and securities will be sold by the Eurosystem as soon as the fiscal emergency in the Eurozone state concerned is over. (Read more)

Press release: Enough is enough, Signor Draghi!

17.05.2016 | Allgemein, Pressemitteilungen

Constitutional complaint against the recent ECB policy

Since the publication of the technical features for the Corporate Sector Purchase Programme, the ECB has definitely given up its mask of monetary policy. Through the massive purchase of corporate bonds, countries with high debt level and deficits in competitiveness such as Italy, Spain and France are supposed to improve the financing conditions of public companies. (Read more)

Press release: ECB discriminates against private companies

21.04.2016 | Allgemein, Beiträge, Pressemitteilungen

The declaration of Mr. Draghi shocked privately owned companies

The technical features for the purchase of corporate bonds published today by ECB leave wide open decisive questions: Is the Eurosystem on the whole liable for the purchase of corporate bonds operated by the group of six National Central Banks ? Why does the Dutch Central Bank stay away from that group ? In particular the participation of Bundesbank in the “Gang of Six“ remains a mystery. (Read more)

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