The Alliance of Citizens' Will regrets the decision of the Federal Constitutional Court regarding the ECB's purchases of government bonds.
May 18, 2021
Prof. Dr. Bernd Lucke, for the complainants of the Citizens' Will Alliance:
Regarding today's decision of the Federal Constitutional Court
on the ECB's bond purchases
Complainant Bernd Lucke said: “Our application was only aimed at allowing us to see the alleged proportionality assessment of the ECB. It is incomprehensible why it must remain secret what negative effects the super-expansive monetary policy of the ECB has. Unfortunately, the Federal Constitutional Court did not even have the courage to demand transparency for the citizens. If the ECB's monetary policy does not cause damage, the ECB could certainly publish its assessment.” Lucke, who is a professor of economics at the University of Hamburg, pointed out that the Federal Constitutional Court prevents science from dealing with the ECB's assessment. “As a result, the ECB certifies to itself that its policy is unproblematic. Because the members of the Bundestag lack the knowledge, and those who have the knowledge are not allowed to see the documents. It is very disappointing that the Federal Constitutional Court has ruled today against an open and informed society.
”Information on the legal dispute
With a sensational ruling, the Federal Constitutional Court decided the constitutional complaint against the bond purchase program of the European Central Bank (ECB). The BVerfG had imposed on the federal government, among other things, the obligation to prove within 3 months that no disproportionately severe economic damages arise from the program.
https://buendnis-buergerwille.de/staatsanleihenkaufprogramm/
The documents submitted in the meantime can only be described as a disregard for the Constitutional Court. The documents are mostly classified as secret, not even the BVerfG knows them.
https://buendnis-buergerwille.de/antrag/
Therefore, on August 5, 2020, an application for disclosure of the documents was submitted to the BVerfG, which was rejected today (May 18, 2021).
Press release from the Federal Constitutional Court:
https://www.bundesverfassungsgericht.de/SharedDocs/Pressemitteilungen/DE/2021/bvg21-038.html
Judgment of the BVerfG: