EU threatens Germany over ECB ruling

It's a little complicated, but the latest legal drama taking place in Europe highlights a power struggle that could undermine the euro.

The European Commission is threatening to sue Germany after the country's top court last Tuesday questioned the legality of the ECB's bond buying program, gave the ECB three months to justify the scheme or said the Bundesbank might have to quit it.

The announcement is not likely trigger an infringement procedure, but is more of a deterrent to show who has final say in these scenarios.

"The last word on EU law is always spoken" by the European court, European Commission President Ursula von der Leyen declared. "Nowhere else.
The European Union pledged 1 billion euros ($1.08 billion) for the global search for vaccines and treatment for the novel coronavirus, the European Commission President Ursula von der Leyen told a pledging conference.
 
The President of the European Commission has been heavily criticised for her behaviour during the coronavirus crisis.


A furious backlash against the German Government erupted on the streets on Saturday, as thousands of protesters broke social distancing rules during a series of rallies. The protests took place on Europe Day.