In an effort to respect the independence of the European Central Bank (ECB) from political power, euro area finance ministers on Friday 8 May did not officially put on their agenda a discussion on the recent judgment of the German Constitutional Court in Karlsruhe (see EUROPE B12480A17).
But the pressure exerted by the Karlsruhe Court on the Frankfurt Institute’s very accommodating policy and a thinly veiled challenge to the legal order of the European Union continue to provoke reactions.