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Der Europäische Stabilitätsmechanismus ist eine Hydra

Author

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  • Markus Kerber

Abstract

After the German Federal Constitutional Court had given its consent to the ratification of the ESM Treaty in an interim proceeding with judgment dated 12 September 2012, subject to several precautionary provisions, the court audience of the main action took place on the 11–12 June 2013. Apart from the acts approving the ESM and the fiscal treaty as well as the regulation (EU) 1176/2011, the German Constitutional Court dealt intensely with the announcement of the ECB Council dated 6 September 2012 to buy bond issues to an unlimited extent from ESM/EFSF-programme states (the so-called OMT programme). The author is the attorney in the procedure 2 BvR 1824/12 of Professor von Stein and others. The article reproduces the essential points of his opening and closing pleadings. Copyright ZBW and Springer-Verlag Berlin Heidelberg 2013

Suggested Citation

  • Markus Kerber, 2013. "Der Europäische Stabilitätsmechanismus ist eine Hydra," Wirtschaftsdienst, Springer;ZBW - Leibniz Information Centre for Economics, vol. 93(7), pages 455-461, July.
    • Handle: RePEc:spr:wirtsc:v:93:y:2013:i:7:p:455-461
    DOI: 10.1007/s10273-013-1552-y
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    Citations

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    Cited by:

    1. Gerhard Rösl & Karl-Heinz Tödter, 2015. "How High Are the Costs of the ECB’s Low-Interest Rate Policy for Germany?," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 68(07), pages 43-50, April.
    2. Franz-Christoph Zeitler & Marcel Fratzscher & Dietrich Murswiek & Manfred J.M. Neumann & Markus C. Kerber, 2014. "The German Constitutional Court’s Ruling on the ECB’s OMT Programme," ifo Schnelldienst, ifo Institute - Leibniz Institute for Economic Research at the University of Munich, vol. 67(06), pages 03-25, March.
    3. Kerber Markus C., 2014. "Den Bock zum Gärtner machen? – Eine ordnungspolitische Hinterfragung der Bankenunion / ECB as single supervisory authority: Setting the fox to watch the geese?," ORDO. Jahrbuch für die Ordnung von Wirtschaft und Gesellschaft, De Gruyter, vol. 65(1), pages 75-98, January.
    4. Gerhard Rösl & Karl-Heinz Tödter, 2015. "Zins- und Wohlfahrtseffekte extremer Niedrigzinspolitik für die Sparer in Deutschland," ROME Working Papers 201501, ROME Network.

    More about this item

    Keywords

    E52; E58; E62;
    All these keywords.

    JEL classification:

    • E52 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Monetary Policy
    • E58 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit - - - Central Banks and Their Policies
    • E62 - Macroeconomics and Monetary Economics - - Macroeconomic Policy, Macroeconomic Aspects of Public Finance, and General Outlook - - - Fiscal Policy; Modern Monetary Theory

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