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German litigation may trap ECB in pincer
The European Central Bank may become trapped in a disruptive pincer movement as a result of four disparate German court challenges to vital elements of Germany’s European policies. The litigation at the constitutional court in Karlsruhe could, in extreme circumstances, upset the European Union’s plans for a ground-breaking €750bn borrowing programme, starting this summer, and the ECB’s possible autumn extension of its €1.85tn emergency asset purchases. The lawsuits signal a new phase of intensity in a 30-year jurisdictional tussle over European integration. German judges and lawyers increasingly argue that ... (full story)