Of course, the decision of the constitutional court to allow European debt in view of the existential Corona crisis is correct. At the same time, however, the judgment shows that the judges are too zealous when it comes to European politics.
comment by
Wolfgang Janisch
In the past ten years, people have gotten used to the fact that the major European crisis interventions were subject to a Karlsruhe reservation. The world waited an anxious summer for the Federal Constitutional Court’s response to the euro rescue package. Then Mario Draghi’s brilliant rescue promise that the ECB would do whatever it takes: Two rounds in Karlsruhe (and one in Luxembourg) followed. And with the ECB’s most recent bond-buying program, there was even a major crash between the Constitutional Court and the European Court of Justice (ECJ). The decade after the financial crisis was also a decade in Karlsruhe.