About: http://data.cimple.eu/news-article/18230cfdc0f2406d730894693a565edbc0a6c5ce14c4b1d504dc12fd

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About: http://data.cimple.eu/news-article/18230cfdc0f2406d730894693a565edbc0a6c5ce14c4b1d504dc12fd Goto Sponge NotDistinct Permalink

An Entity of Type : schema:NewsArticle, within Data Space : data.cimple.eu associated with source document(s)

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rdf:type	schema:NewsArticle
schema:articleBody	The EU insisted that European law trumps that of member states on Tuesday, after a ruling by Germany's top court called into question stimulus policies by the European Central Bank. "Notwithstanding the analysis of the decision of the German constitutional court today, we reaffirm the primacy of EU law," said Eric Mamer, spokesman for the European Commission, the bloc's executive arm. Earlier in the day, Germany's Constitutional Court in Karlsruhe demanded clarification of a key element of the ECB's support to the eurozone economy, but stopped short for now of overturning its debt crisis-era "quantitative easing" (QE) bond-buying scheme altogether. The court ruled that Germany's central bank will be barred from participating in QE in three months' time unless the ECB "demonstrates in a comprehensible and substantiated manner" that its policies are legal, the landmark ruling said. The court also raised an unprecedented challenge to the EU's top court, labelling its earlier ruling rubber-stamping the QE scheme "not comprehensible" and declaring it not legally binding. Mamer rejected this interpretation, underlining that EU law -- agreed to and ratified by member states -- means that "the rulings of the European Court of justice are binding on all national courts". The European Commission is the bloc's vast executive arm, but is also tasked with defending EU law against national policies and court rulings. Critics of Tuesday's shock decision believe the German court exceeded its jurisdiction by putting ECB decisions under threat. The ECB's bond-buying programme is credited with having put an end to the eurozone debt crisis by protecting heavily indebted countries such as Italy from attacks on the financial markets. Concern is that the court decision will also be used in Germany to discredit the latest bond-buying spree by the ECB designed to shield Italy, Spain and others from economic devastation caused by the coronavirus crisis. arp/dc/jh
schema:headline	Brussels asserts primacy of EU law after German ECB ruling
schema:mentions	Kingdom of Italy European Central Bank Federal Constitutional Court Eurozone European Commission European Union law Brussels Germany European Union Coronavirus Mamer railway station Constitutional Court of Spain Karlsruhe European debt crisis Quantitative easing Francoist Spain Air Raid Precautions in the United Kingdom
schema:author	http://data.cimple.eu/organization/1f0054d541e000623a2c1e561a247c073ef6328e8be9ffafda7b3fcd
schema:datePublished	2020-05-05 (xsd:date)
http://data.cimple...sPoliticalLeaning	other political leaning
http://data.cimple...logy#hasSentiment	neutral sentiment
http://data.cimple...readability_score	90 (xsd:integer)

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