The ECB will continue with the purchases "without flinching", affirms the German representative of the Governing Council
Isabel Schnabel, German representative on the Executive Committee of the European Central Bank (ECB), has argued that jurisdiction over the actions of the central bank corresponds exclusively to the Court of Justice of the EU and, therefore, the ECB will continue to implement its programs of purchase of PSPP and PEPP assets in line with their mandate "undeterred" by the decision of the German Constitutional Court.
"It is not for me to judge the legal aspects of the verdict, but its implications clearly go beyond the ECB. The primacy of EU legislation is key to the functioning of the EU," Schnabel warned in an interview with the newspaper. Italian 'La Repubblica'.
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