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Mersch: In the spirit of European cooperation
The judgment of the German Federal Constitutional Court on the ECB’s public sector purchase programme (PSPP) is a reminder of the confederal nature of the European Union. The judges themselves noted that “certain tensions are […] inherent in the design of the European Union; they must be resolved in a cooperative manner, in keeping with the spirit of European integration, and mitigated through mutual respect and understanding.”[1] In this spirit, the ECB – which is exclusively subject to the jurisdiction of the Court of Justice of the European Union and accountable to the European Parliament – supports ... (full story)