# Blog, Interviews

The Independence of the Central Bank at Risk

This article was first published by Frankfurter Allgemeine Zeitung in German, Friday 29 May 2020. The ruling of the German Federal Constitutional Court (GFCC) of May 5 on the ECB’s monetary policy affects not only the re...

An analysis of the German Constitutional Court ruling on the ECB QE programme

The German Constitutional called today on the ECB to justify its bond-buying program. What does today’s ruling of the German Constitutional Court mean for the ECB’s QE program? Could such a decision open a pr...

The OMT programme was justified but the fiscal union question remains

I concur with Mody’s overall conclusion that the monetary union, even with the OMT programme, is incomplete and the issue of fiscal union remains unresolved. To permanently stabilise monetary union, the EU will nee...