May 13, 2020 / 10:26 AM / 13 days ago

German court president defends decision on ECB bond programme - Die Zeit

BERLIN, May 13 (Reuters) - The president of Germany’s constitutional court defended a ruling on one of the European Central Bank’s bond purchasing programmes, saying it was a good decision for Europe, German weekly newspaper Die Zeit reported on Wednesday.

“We firmly believe that this decision is good for Europe because it strengthens the rule of law. That will become apparent in the medium and long term,” Andreas Vosskuhle was quoted as saying.

Vosskuhle added the decision was a contribution to dialogue.

The court last week gave the ECB three months to explain the proportionality of its bond purchases or risk losing Germany’s Bundesbank - one of 19 national central banks that are members of the ECB - as a participant. (Reporting by Thomas Seythal; Editing by Maria Sheahan)

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