Open AccessThe Legal and Economic Questions posed by the German Constitutional Court’s decision in the Public Sector Purchase Programme (PSPP) Case
Author(s) -
Andrew J. Perkins
Publication year - 2021
Publication title -
athens journal of law
Language(s) - English
Resource type - Journals
ISSN - 2407-9685
DOI - 10.30958/ajl.7-3-7
Subject(s) - german , constitutional court , economic and monetary union , european union , politics , proportionality (law) , political science , economics , law and economics , law , economic policy , history , archaeology , constitution
This paper seeks to explore the PSPP decision of the German Constitutional Court and its effect on the monetary policy decisions taken by central banks. It begins by exploring the decision and its effect in Germany, together with its wider implications for the European Monetary Union before moving onto consider the standard of review that should be applied by the Courts when they are required to review central banks actions. Conclusions are reached to show that any standard of review should be limited because of the unique economic and political circumstances in which central bank decision making takes place. Keywords: Central Banking; Judicial Review; Proportionality; European Law; European Monetary Union.