June 29, 2020 / 4:13 PM / a month ago

German lawmakers conclude ECB has met court requirement on stimulus: draft document

BERLIN (Reuters) - The German Bundestag has concluded that the European Central Bank has fulfilled requirements demanded by the country’s Constitutional Court for proportionality with its flagship stimulus programme, a draft Bundestag document showed.

In the document, a copy of which was seen by Reuters, the parliamentary groups of Chancellor Angela Merkel’s conservatives, their Social Democrat coalition partners, and the opposition Free Democrats and Greens, said:

“The German Bundestag considers the ECB’s presentation on the implementation of a proportionality assessment to be plausible and the requirements of the BVerfG (Constitutional Court) ruling of 5 May 2020 thereby fulfilled.”

Reporting by Andreas Rinke; Writing by Paul Carrel; Editing by Joseph Nasr

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