The European Court of Justice (ECJ) has announced that it will publish its judgment on the legality of the European Central Bank's OMT bond purchasing program on June 16. Germany's Constitutional Court had referred the case to the ECJ at the start of last year. The ECJ’s advocate general said some months ago that the OMT program is basically in line with EU rules. “While the advocate general is setting in his opinion some conditions for bond purchases it basically gives the ECB plenty of rope,” says cep legal expert Oliver Sauer. “The main line of reasoning is that the ECB is the expert and should
The ruling by the European Court of Justice demonstrated a “naïve, starry-eyed” trust in the European Central Bank, without setting any real limits on its actions, said Bert Van Roosebeke, who leads financial markets research at the cep. ...read on
The Scottish legislation introducing a minimum price per unit of alcohol is contrary to EU law if less restrictive tax measures can be introduced, the European Court of Justice (ECJ) ruled on Wednesday. The ECJ said it considered that “the effect of the Scottish legislation is significantly to restrict the market, and this might be avoided by the introduction of a tax measure designed to increase the price of alcohol instead of a measure imposing a minimum price per unit of alcohol.” The Scottish Parliament in 2012 had passed legislation relating to the minimum price of alcoholic drinks in
The European Court of Justice (ECJ) in Luxembourg will give its final decision this Wednesday on minimum alcohol pricing in Scotland. The Scottish government in 2012 passed a decision to bring in a minimum unit price on alcohol of 50 pence, with the aim of taking control of alcoholism. Last year, Alex Salmond, who was Scottish First Minister at the time, told GQ magazine that Scotland is a “nation of drunks” and that he is “significantly” concerned by the nation’s relationship with alcohol. “’The general reason is the availability of cheap alcohol and the cultural changes that has introduced
Germany has filed a lawsuit at the European Court of Justice (ECJ) against the European Commission over the row with the Brussels‘ executive over the country’s renewable energy law (EEG), Germany’s Spiegel Online reported. “Germany is questioning whether the subsidy scheme for renewables under the EEG is correctly qualified by the European Commission as state aid which, in turn, makes it subject to [...] directly out of state coffers.” According to Spiegel Online, the new EU Energy Commissioner Miguel Arias Canete will meet next week the members of the German parliaments’ economics and energy commission in
... The German court also said on Friday that the European Central Bank might have violated a ban on its funding governments. However, it also said in a statement that it “also considers it possible that if the O.M.T. decision were interpreted restrictively,” it could conform with the law. Reacting to the German court’s announcement, the European Central Bank stood by the program’s legality, saying in a statement: “The E.C.B. reiterates that the O.M.T. program falls within its mandate.” The European Court of Justice in Luxembourg has a reputation for giving forward-leaning federalist rulings that
cep | Centre for European Policy ‒ Stiftung Ordnungspolitik, Freiburg
University of Freiburg - Faculty of Law, Germany
Second State Examination in Law, Ass. Jur.
Legal traineeship at Darmstadt Regional Court including an elective placement at the European Court of Justice (Luxembourg).
First State Examination in Law
Law Studies, University of Freiburg, University of Hamburg and University of Grenoble (France)
The European Court of Justice (ECJ) ruled on Tuesday that the OMT bond purchase programm of the European Central Bank is compatible with EU law. The Court finds that "the OMT program, in view of its [...] : “It’s a very clear defeat for the German court. On the point of whether this is an economic or monetary policy, the European court said it is monetary policy and so within the ECB’s mandate.” [...] program is likely both to preserve the singleness of monetary policy and to contribute to its primary objective, which is to maintain price stability, the Court reasoned. The ECJ also stated that the OMT
The legal dispute about the European Central Bank’s OMT government bond purchasing program will enter a next stage at the European Court of Justice (ECJ) on Wednesday. The advocate general Pedro Cruz Villalon will provide his opinion on the legality of the ECB’s backstop for sovereign bonds, following a request from the German Constitutional Court. cep expert Bert Van Roosebeke told Austria’s Der Standard that the ECJ in the end will most likely set only very abstract criteria for the OMT and leave the rest to the German Constitutional Court. The German judges might then have to decide if possibly
The European Court of Justice (ECJ) will publish on Tuesday its judgement on the legality of the European Central Bank's OMT bond purchasing program. Germany's Constitutional Court had referred the case to the ECJ at the start of last year. The ECJ’s advocate general said some months ago that the OMT program is basically in line with EU rules. “If the ECJ will follow the line of reasoning of the advocate general there will be basically no limits to bond purchases,” the cep experts Bert Van Roosebeke and Oliver Sauer argue in their latest cepBlog . “The main line of reasoning of the advocate