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A picture showing six justices of Germany’s highest court resplendent in their red robes and headgear at the opening of a hearing on the ECB’s policies

The euro and the German constitution

Two legal challenges to the EU central bank’s most controversial policies have been working their way through Germany’s Federal Court of Justice, the country’s supreme court equivalent. In one of the cases, the justices in Karlsruhe already ruled that the authority of the EU Banking Union ought to be limited. A verdict on the legality of the EU’s “quantitative easing” policy, under German law, is expected soon. This could prove to be the moment of truth not only for Germany.

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