Gauweiler Ultimatum on ECB Bond-purchasing Issue

Peter Gauweiler, the plaintiff who won the case against the European Central Bank’s bond-buying program in the German Constitutional Court on May 5, charges the government and parliament with having approved the German Bundesbank’s continued participation in the ECB conduct in disregard of the conditions set by the court. He therefore informed the government that if they did not document, by July 30 at the latest, that the German central bank and ECB were acting in full accordance with the court’s ruling — which set a deadline of Aug. 5 — he will take the whole issue back to the court. He will seek to force an instant imposition of the May 5 ruling. The government would then be forced by the court to block the further participation of the central bank in the ECB program.