The European Commission decided on Thursday 2 December to close the infringement procedure opened in June against Germany concerning the ruling of the German Constitutional Court in May 2020 which, despite a ruling by the Court of Justice of the EU (CJEU), called into question the proportionality of the ‘PSPP’ of massive repurchase of mainly public securities (‘quantitative easing’) launched by the European Central Bank in 2015 (see EUROPE B12737A26).
The Commission gives several...