According to this ruling, the German federal government and Parliament also failed to challenge the appropriateness of PSPP and they needed to. Germany's Federal Constitutional Court has declared the PSPP public sector purchase programme by the European Central Bank (ECB) partially. First, it realised it had to strip the ECB's actions of their legal “protection” under EU law, namely their stamp of approval by the ECJ in the.
CELS Webinar: The German Constitutional Court's decision on PSPP: Constitutional earthquake?
: Pspp ecb
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Monetary policy decisions. However, pspp ecb ECB stresses that the programme can be restarted if circumstances so require. Read more about securities lending transactions pspp ecb auctions under the purchase programmes. What is the impact of this ruling? A package of unconventional monetary policy measures, including private sector asset purchases and targeted longer-term refinancing operations TLTROshad already been announced in the second half of to reverse the disinflation trend. Banking and pspp ecb rates in monetary policy analysis: A quantitative exploration.
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