Discover and read the best of Twitter Threads about #ECJ

Most recents (16)

A first reaction to the @EU_Commission announcement of the #recoveryfund #mff and other aspects of the Euro 750 billion #fiscalstimulus package to be launched by @vonderleyen today ...

A twitter #thread

"it is too little, it is too late and it may end up being watered down"
My initial reaction and response to the Franco-German #recoveryfund proposal was captured here on @POLITICOEurope and remains largely true ...

politico.eu/article/this-i…

This is not a macro economic significant sum
Nor is it a step towards a #fiscalunion or even just #eurobonds
According to @Reuters #Italy will get Euro 82 billion in grants and euro 91 billion in loans. #Spain will get euro 77 billion in grants and 63 billion in loans. Italian and Spanish GDP in 2019 was Euro 2,000 billion and Euro 1,400 billion and may fall by euro 300/200 billion 2020
Read 19 tweets
Tracing the mastermind behind #BVerfG judgment isn't easy. But the judgment draws & quotes heavily from a thoughtful article by Mark Dawson&Ana Bobic @thehertieschool published 2019 in CMLReview

Their criticism became punchline of the #BVerfG ruling against #ECB & #ECJ. Thread
First, Dawson/Bobic criticized that #ECJ already in its #OMT judgment had poorly assessed the evidence provided by #ECB to support OMT

Just as #BVerfG had previously criticized OMT & now argues that ECJ assessment of #PSPP is methodologically flawed (para. 137 of judgment)
...then they point at poor #ECJ analysis of possible alternatives to #PSPP. ECJ should have checked for measures with less burdensome economic side-effects.  

#BVerfG picked up this point in paras 139ff arguing that ECJ unproportionality test is insufficient
Read 7 tweets
Is the #BVerfG verdict really that bad? Can’t the #ECB just write a letter explaining why PSPP is proportional and thus legal under German constitution? /thread
Well, yes it can. And it will, I am sure. No reason to stonewall the Court at this point. But the problem is: the #BVerfG has already set quite a few limits on what it considers proportional. /2
The main criticism is that neither the #ECB nor the ECJ did a proper analysis (or at least not use that analysis) on the economic policy implications of the PSPP. The verdict reads quite harsh on that omission, esp re: the ECJ. /3
Read 10 tweets
A short #thread on the #Karlsruhe decision on the legality of the @ecb's #QE #PSPP ... (NOT #PEPP or #Covid QE)

My overall assessment ...

It's not good ... 3 or 4 /10 where 10/10 would have been carte blanche for the #ECB and 0/0 "QE is verboten", a disaster for the #Eurozone
First the headline bombshell "ECB decisions on the Public Sector Purchase Programme exceed EU competences" is a BIG deal ... the @BVerfG has directly accused the @ecb of violating the #EU constitution and the @EUCourtPress and #German government of complicity in this violation!
More precisely, #BverfG says the #ECB violated Art 5(1) and 5(4) on "#proportionality" by failing to demonstrate that it considered the "economic effects" of #QE before launching it, and that #Germany and the #ECJ failed to hold the Governing Council of the #ECB to this standard!
Read 9 tweets
[THREAD] The emergency law passed in #Hungary is another step in #Orban’s plan to get rid of #democracy and #RuleofLaw. Here are 5 things the #EU could do to help Hungarians restore their democracy. Tools are there, just not being used.
/1
1 - Use the stick. #Orban’s emergency law violates EU rules in at least two ways, which could allow the @EU_Commission to open infringements and bring #Hungary before the #ECJ.
/2
The threat of imprisonment will dissuade media outlets, journalists and activists from working in and on #Hungary. That violates EU rules on freedom of establishment and freedom to provide services, as well as fundamental rights – incl. freedom of expression and information.
/3
Read 15 tweets
NEW: The UK publishes its approach to negotiating the future #UK - #EU relationship gov.uk/government/pub… UK already saying that it wants a "Canada", "Korea" or "Japan" style relationship and wants to be seen as a "sovereign equal". None of this likely to fly anywhere...
Here is the document itself with some key bits highlighted (thread) assets.publishing.service.gov.uk/government/upl…
Point 5: "relationship between sovereign equals" is - although UK Gov entitled to say this - delusional. #UK much smaller than #EU and more exposed to EU economically than vice-versa. Sovereignty argument coming through strongly here.
Read 24 tweets
The Sovereignist viewpoint is flawed. The #ECJ and the #EU concern themselves with the "health" of the judiciaries in Member States because they are part of an EU-wide network that needs safeguarding in the interests of ALL EU citizens. bit.ly/2pIA56V
Article 19 of the Treaty of the European Union does not only set up the #ECJ as the forum for interpretation and application of Treaty law - it also enlists all the national courts in all member states as part of a network guaranteeing uniform and equal application.
The EU is not "hindering" a Member States' sovereignty by examining the rule of law worthiness of its judiciary. Rather, it is acting in the interests of all the citizens of the Union, including those of the MS under scrutiny - by ensuring that they continue to have access to ...
Read 4 tweets
@JolyonMaugham Thanks Jolyon. Just a few quick points, some of them obvious. 1/
@JolyonMaugham #Brexit has taken us into uncharted waters. (Who would have thought that a UK PM would ever prorogue #parliamentt and threaten the #ruleoflaw This means that by definition there is no precise precedent to guide us. 2/
@JolyonMaugham Furthermore legal provisions such as #Article50 may be vague and their text offer little direct guidance. The law ultimately may be uncertain until pronounced upon by a Court such as the #ECJ 3/
Read 13 tweets
Mega #ECB thread- bear w me:)

Thursday’s mtg is shaping up to be an extremely important one

Most analysts expect #Draghi to tilt further dovish & indicate a “package of measures” for Sep but not act YET
Why wait? 1/ Fed first 2/ New projections in Sep 3/ Hv to agree on package
Reminder: what are ECB’s tools? ⚒:
- forward guidance (currently calendar based)
- rate cuts
- QE (sovereign, agencies, corporates)* I’ll come back to this point
- bond re-investments (ppl often forget this one)
So... What’s priced?
- Market is pricing in 3bps cuts July, 13bps in Sep

What about QE? *tougher to estimate
- Barclays compare mkt reaction post Whatever It Takes to post-Sintra (not really 🍎 to 🍏 but ok) : strong rally already in periphs ; look at BTPs & 5y5y infl 👀
Read 9 tweets
"The [#ECJ] has ruled that a revocation should be "unequivocal & unconditional", suggesting that the ECJ would take a dim view of any attempt to [#RevokeArticle50] & then resubmit it..." But @joannaccherry says we can resubmit if we act in good faith. bbc.co.uk/news/uk-politi…
Here's a thread with several links to what @joannaccherry has said in the House of Commons about our unilateral sovereign right to #RevokeArticle50 and perhaps to resubmit later if we so choose:
There is a massive irony in this whole question. #Brexit was seen as a way to 'free' a 'subject' UK from the #EU. But #Article50 recognizes that each member state of the EU is an independent state with a sovereign right to decide in its own constitutional way to leave the EU.
Read 7 tweets
We have reached the end of the road with this Tory disaster, this quantum of #Brexit created & destroyed by & for Tories, a Frankenstein Brexit which now should tear to pieces the party that made it. Schrödinger's Brexitstein Monster, the movie. But what should @UKLabour do now?
First, it is really important for all of us in every party to know what Brexiters & #TheresaMay hoped we never would know: we were able to trigger this #Brexit attempt to become independent because by the terms of the TEU we were in fact independent & free to use #Article50.
As @joannaccherry has insisted in Parliament (something also said almost in passing by Kenneth Clarke), we can #RevokeArticle50 now to avert a disastrous #NoDealBrexit. That doesn't have to be the end of Brexiter hopes. It gives us the time that we need to reflect & rethink.
Read 12 tweets
I often agree with @EuroBriefing as I think he & colleagues offer some of the best insights on European politics. But the below is just unthinkable. Were the UK to unilaterally revoke Art.50, I'd bet a case would be put before the ECJ to stop this from happening.
Say UK stays in the #EU under Corbyn with the clear plan of triggering #Article50 a little down the line. What would a good EU lawyer do? She (because, let's face it, it would be a she 😉) would advice the EU institutions to bring the #UK before the #ECJ.
Why? Because, as a member-state, the UK would have breached Article 4 of the Treaty on European Union (TEU) which lays down something very boring called the "principle of sincere co-operation" between the EU member-states and the EU itself.
Read 6 tweets
Today, AG Szpunar of the #ECJ suggested that the Court (which now has to decide this case) should limit the scope of the right to be forgotten to the EU.

Opinion seems so far only to be available in French. Overview and some thoughts below 👇
Here is an overview of the facts & questions in this case:
law.ox.ac.uk/business-law-b…

Reminder: this case involves the interpretation of the Data Protection Directive, not the GDPR!
The AG starts his opinion by suggesting that there should be only a 'European right to erasure'
Read 12 tweets
From 9am, ECJ judges will be hearing cases for and against the UK unilaterally withdrawing its Article 50 notice. Chances are stacked against the anti-Brexit campaigners ft.com/content/a54cf3…
Case begins for the unilateral A50 supporters who want to take back control of the exit clause. Campaigners are pushing back against the Brits, the EU Commission and the EU Council
A key argument against cancelling Article 50 is that it would encourage EU governments to trigger "tactical" exits and withdraw them whenever they like. Supporters say it is purely "hypothetical" and shouldn't stop ECJ judges ruling in their favour
Read 36 tweets
001/ [article content in this tweet series 001-180 reproduced with permission from Martin Howe QC of Lawyers for Britain @lawyers4britain]
#quote "Leaving the EU on WTO terms: pulling down the barriers to world trade
Introduction: why prices will FALL after Brexit, not rise" /002
002/ #quote "Over the past couple of weeks, the media have been full of lurid scare stories about what will happen if the UK leaves the EU on WTO terms, because negotiations with the EU do not result in a withdrawal agreement." /003
#tariffs #NoDeal #Brexit #WTO #ProjectFear #shortages #food #medicines
003/ #quote "One of the most ridiculous and UNJUSTIFIED of these absurd scare stories is that it will lead to higher prices, and even shortages, of foods and medicines." /004
Read 180 tweets
Today, @CER_EU publishes my piece on #Brexit and #JHA. I have been looking at this for 1,5 years so I hope I did not make too many mistakes (links to piece - cer.eu/publications/a… and opens thread)
At the outset of the #Brexit process, most people assumed that a deal on #police and #judicial co-operation was easier to get than one on #trade. Time has shown this is not the case. Ongoing co-op on #JHA is one of the few items yet to be agreed on #withdrawal deal. Why?
Well, because the #EU and #UK's opening positions in the #negotiation are incompatible: Britain wants a #bespoke agreement with the EU, a la #Schengen, but is not willing to accept #ECJ or #EUCharter. EU wants to replicate existing models. What to do?
Read 10 tweets

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