In June, the Second Senate negotiated under Andreas Voßkuhle on the controversial OMT program.
Peter Gauweiler, CSU Bundestag deputy and the most famous plaintiffs against the OMT bailout of the ECB, triumphed. If the European Court of Justice (ECJ) follow the opinion of the Advocate General, break the euro rescue together “like a house of cards.” Because then, the European Central Bank must withdraw (ECB) from the Rettungstroika for Greece, he infers from the requirements of Pedro Cruz Villalón, the competent court house lawyers on Europe.
Joachim Jahn, born in 1959, business correspondent in Berlin, in charge of “Law and Taxes”
However, observers have the impression that the Spaniard the central bank has given free rein. The required motivation for a possible rescue operation is a mere formality. And the specification, the purchase of government bonds must be “proportionate” and should not lead to direct to a public finance, ultimately means only: the ECB may issue as many billions as they think is right – only not more. Finally, they have a very wide discretion. Treacherous the formulation, they should (only) take any risks, “she exposes necessarily a scenario of insolvency.”
The ECJ ruling is expected in the second half. The Luxembourg judges are not bound by the vote of its Advocates General. The often-quoted rule of thumb that they usually did these things, does not apply to landmark decisions. For example, a colleague of Cruz Villalón had vehemently in the process to the Internet search engine Google to a “right to be forgotten”; However, the Court required then the Group in the event of a dispute deletion.
For the judge could also play a role in the OMT method that the Federal Constitutional Court has presented them for the first time in its history, a question for a preliminary ruling. And in a clear rejection of the Governing course made clear.
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It is conceivable, therefore, that the Luxembourg lawyers do not take a chance on an open challenge to the German court but his “golden bridge” built by a compromise formula one. The ECJ and national constitutional courts currently are engaged in a race for the unspoken question of who in an emergency has the last word – and in addition to the European Court of Human Rights in Strasbourg
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If the European judges Cruz Villalón follow and the ECB have largely free hand, likely in Karlsruhe internally break a dispute over whether the Luxembourg judgment beyond the authority (“erupting act” or “ultra vires” called) rank. In the extreme case, the Constitutional Court may prohibit the German state institutions to participate in a possible purchase program.
So much audacity but expect very few constitutional law by the Second Senate in Karlsruhe. A constitutional e xpert said: “Over the Advocate General has advised the Federal Constitutional Court will certainly not get the ECJ.” The small concessions of the Spaniard will probably consider it outstretched hand – and hit
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