Germany criticises ECB’s mass bond-buying policy

A top court based in the European country of Germany has ruled that the mass bond-buying policy of the European Central Bank to stabilise the eurozone partly has violated the constitution of the country.

The ruling is not related to the purchase in the coronavirus crisis. It is actually connected to the government debt worth €2.1 trillion bought by the ECB since 2015.

According to the ruling of the Constitutional Court in Karlsruhe, there is not enough German political oversight in the purchases.

Italy is among the countries most reliant on ECB bond purchases because of the severe economic impact of the coronavirus pandemic.

Neither Germany nor any of the European countries have commended on this matter.

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