EBI Roundtable on the recent German Constitutional Court’s Ruling on the ECB 2015 “Public Sector Purchase Program”

Webinar Details

Date: Thursday, 21 May 2020

Time: 17:00 CEST


  • Filippo Annunziata (EBI, Universita’ Bocconi)
  • Luis Barroso (Banco de Portugal)
  • Gareth Davies (Vrije Universiteit Amsterdam)
  • Christos Gortsos (President of the Academic Board (EBI) and National and Kapodistrian University of Athens)
  • Thomas Gstaedtner (President of the Supervisory Board (EBI))
  • Christos Hadjiemmanuil (EBI,University of Piraeus and Member of the Monetary Policy Council in the Bank of Greece)
  • Bart Joosen (EBI, VU University Amsterdam)
  • Matthias Lehmann (EBI, University of Bonn)
  • Georg Ringe (EBI, University of Hamburg)
  • Marino Perassi (EBI, General Counsel of Bank of Italy)
  • Eddy Wymeersch (EBI, Universiteit Gent)


Opening remarks by Thomas Gstaedtner and Professor Christos Gortsos.

First Panel: The Court’s competences, the Ruling and its consequences for monetary policy making (Moderator: Eddy Wymmersch)

  • The control of monetary policy by courts, and the limits of the competences of the BVerfG (Gareth Davies)
  • The mandate of the ECB and the mandate of the CJEU: Limited by the principle of proportionality? (Matthias Lehmann)
  • Legal (i.e. non-consequentialist) reasons for which the decision of the BVerfG is patently wrong (Christos Hadjiemmanuil)
  • Τhe economic and political context and the consequences of the decision (Georg Ringe)

Second Panel: The broader picture and link to further jurisprudence (Moderator: Bart Joosen)

  • Landeskreditbank and Weiss: towards a common set of principles for the judicial review of the ECB’s decision in the fields of monetary policy and supervision?(Filippo Annunziata)
  • Dialogue among European Court of Justice and national Constitutional courts – the case of preservation of financial stability in the Italian judicial saga of “Banche popolari” (Marino Perassi)
  • European integration clauses and the role of principles in national constitutional review – the case of Portugal during the financial crisis (Luis Barroso)