Berlin (dpa) – Eurozone solidarity is not endangered by a German court ruling that declared parts of the European Central Bank’s bond-buying programme unconstitutional, German Finance Minister Olaf Scholz insists.
“At a time when the coronavirus crisis is making great demands of us, the single currency and common monetary policy give us the cohesion we need in Europe,” Scholz said in Berlin.
He noted that the Constitutional Court ruling would have no immediate implications for the Bundesbank, Germany’s central bank and a top driver of ECB purchasing power.
“The Bundesbank may continue to participate in the joint purchase programme for the time being,” Scholz said.
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