ECB Governing Council member Gabriel Makhlouf said German Constitutional Court ruling on ECB asset purchases was an “interesting judgment”. Yet, “fundamentally it doesn’t actually get in the way of the ECB carrying on with its incredibly important job, especially at this time in the crisis”.
“We are determined to respond forcefully to the challenges and to do whatever it takes to deliver our mandate,” he added. “The judgement is directed at the German government and the German parliament. It looks as if it runs counter to what the European Court of Justice indicated just over a year ago but the ECB itself acts very transparently,” he said.
