Associate Fellow, Johns Hopkins University SAIS Europe @SAISHopkins @JHU_BIPR. Frmr London, Frankfurt correspondent ECB watcher @sole24ore Columnist @Tennis_Ita
May 9, 2020 • 10 tweets • 9 min read
Emboldened by the German Constitutional Court #BVerfG decision on @ecb QE, several other national Const. Courts are about to issue their own rulings. The Centre for the Law in Central Banking (CLiC) has helpfully collected them in its WP 69/2020. Long thread. First, Portugal 1/n
The Tribunal Constitucional of PT has argued that @ecb incorrectly gave precedence to issue limit over capital key, therefore all but stopping the purchase of PT bonds. However, unlike GCC, it recognizes it has no jurisdiction over ECB and it has ordered 2/n
