In evidenza

This article analyses the recent decision of the German Constitutional Court, where it considered that the PSPP (Public Sector Purchase Programme) adopted by the ECB (European Central Bank) was ultra vires. The author undertakes an in-depth analysis of the relationship between the European Court of Justice (ECJ) and the constitutional courts of the Member States, also touching upon the fundamental principles of EU law underpinning such judicial cooperation, which is one of the main features of the Union’s judicial architecture. Such analysis leads to the conclusion that the German Constitutional Court misconstrued, inter alia, the principles of conferral and proportionality and threatened the very foundations of the EU legal order, of its integrity and autonomy, by replacing judicial cooperation with judicial confrontation and by ignoring the principle of equality of Member States before the Treaties and the principle of sincere cooperation between the Union and its Member States. Moreover, the decision of the German Constitutional Court defies the exclusive competences conferred to the ECJ by the Treaties, thus undermining the rule of law at the heart of the European Union. It also seriously endangers the independence of the ECB and the ESCB, including the Bundesbank, in performing their tasks in the field of monetary policy. Some final words are devoted to an assessment of the immediate consequences of the judgment, as well as possible ways to overcome it

Continua a leggere

L’articolo propone nuove forme partecipative e di finanziamento delle opere pubbliche che assicurino il coinvolgimento della popolazione interessata grazie alle soluzioni rese possibili dalla blockchain, onde realizzare un’amministrazione innovativa e sostenibile motore di nuove opportunità finanziarie. Il contributo parte dalla considerazione che il finanziamento delle iniziative pubbliche interessa da vicino amministrazioni e cittadini, sia nella loro veste di fruitori delle stesse, sia quali contribuenti. La città è così intesa quale laboratorio di innovazione, ove soluzioni virtuose possono essere sperimentate ed implementate mantenendo un collegamento stretto e vicino alla popolazione. A tal fine vengono proposte soluzioni concrete per un finanziamento delle infrastrutture pubbliche innovativo, tracciabile e sostenibile, poiché attivato con i nuovi strumenti sviluppati su blockchain.

Continua a leggere

The judgment of 5 May 2020 of the Zweiter Senat of the Bundesverfassungsgericht, to the extent that it expresses the German constitutional judge's claim to assess the legality of the ECB's decisions on the basis of the principles of attribution and proportionality, is more than questionable in point of law. Furthermore, it is extremely dangerous: and not only because it implies that the Zweiter Senat ultimately refuses, on the basis of the democratic principle and the control of the Union's competences, the uniformity of application of EU law. But also because it appears as the glaring demonstration of a form of “cultural bullying” many complain about, and which emerges in a crystal clear way in the reasoning carried out on proportionality. This is an attitude which, in the contingency caused by the COVID-19 emergency, could have truly tragic consequences for the future of the European Union.

Continua a leggere

The reasoning of the German Constitutional Court judges to prohibit the Bundesbank from buying Sate securities on the secondary market if the ECB does not demonstrate within three months the proportionality of its decisions under the PSPP programme is not sustainable. Instead, the judges, who demonstrate unfounded intellectual arrogance in their claim to interpret EU law, make manifest errors in applying the principle of proportionality to the delimitation of competences between the Union and the Member States. They also make methodological errors in their application of the principle of proportionality to ECB decisions, while highlighting their prejudices in the field of monetary and economic policy.

Continua a leggere