Wednesday, March 31, 2021
Home Breaking News The German Constitutional Court considers an appeal against the European recovery funds...
- Advertisement -

The German Constitutional Court considers an appeal against the European recovery funds and threatens to delay its delivery


The estimated appeal questions the transfer of common debt and blocks the release of the 750,000 million euros after approval by parliament

Chancellor Angela Merkel in a session in the Bundestag.
The Constitutional Court of Germany has suspended the process of ratification of the post-pandemic recovery plan of the European Union (EU) by estimating an appeal against this mechanism based on a common debt of countries of the bloc.

The high court “decided that the head of state should not sign” the text of the law on this plan, which has just been approved by parliamentarians, until a decision is made on an urgent appeal filed, indicates a statement from the court. reports Efe. The two chambers of the national parliament just approved the text of the law this week. All this can delay the implementation of the fund, endowed with 750,000 million euros, at a time when the pandemic does not stop in Europe and continues to affect entire sectors of the economy.

This plan, hard-negotiated last summer in the European bloc, aims to alleviate the economic consequences of the Covid-19 pandemic on the continent. The plan is based on an unprecedented debt mechanism common to all Member States. Part of the money – € 312.5 billion – will be transferred in the form of grants, especially to the countries most impacted. It is precisely this debt financing approach of the European countries what the promoters of the appeal question before the German constitutional court.

The German far right, the AfD party, it also announced its intention to attack the fund as unconstitutional. Opponents of the text argue that German law prohibits the country from sharing the burden of debt with other states. They see in it a policy of unacceptable “financial transfer” from countries supposedly virtuous in their budgets, towards negligent countries. The court’s decision will therefore be highly scrutinized.

- Advertisement -

Several appeals have already been brought in the past, on similar issues, in relation to the measures to support the economy adopted by the European Central Bank (ECB), based in Frankfurt. Until now, the supreme judges have ended up accepting these measures, but with increasing reservations, implying that, according to them, the limits of what is legally possible in Germany were bordering on. This delay is a severe blow to the government of Chancellor Angela Merkel, who always supported this fund, joining among others France, Italy and Spain, thus ending a tab in his own country.

According to the criteria of

- Advertisement -

The Trust Project

Know more

Source site

- Advertisement -
- Advertisement -


Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular

Recent Comments

- Advertisement -