Ultra Vires ECB

Ultra vires is a latin phrase meaning literally "beyond powers". If an act requires legal authority and it is done with such authority, it is characterised in law as intra vires. If it is done without such authority, it is ultra vires. Acts that are intra vires may equivalently be termed "valid" and those that are ultra vires "invalid". The verdict of the German … Continue reading Ultra Vires ECB →

“How so? Breaking the law has now become a sort of routine”

In an interview with Die Presse, the former chief economist of the European Central Bank (ECB) discusses the latest decisions taken by this institution and asserts that from 2010 on, the ECB has given in to pressure from the outside ("Sie hat dem Druck von außen nachgegeben"). Asked about whether this pressure originated in the USA, … Continue reading “How so? Breaking the law has now become a sort of routine” →

Die wirkliche Wirklichkeit

We argued in a recent post that the ESM violates Germany's constitution and the EU treaties. Today the German Constitutional Court (GCC) ruled that the ESM and its ‘fiscal treaty’ on budget discipline do not violate the country’s Basic Law and do not undermine the Bundestag`s sovereignty over budget issues, according to Openeurope. Although the full ruling … Continue reading Die wirkliche Wirklichkeit →

“The tears I have cried over Germany have dried. I have washed my face.” – Marlene Dietrich

As 54% of Germans Want Constitutional Court to Kill the ESM doubts about next wednesday's resolution of the German Constitutional Court (GCC) increase in the financial community Germans could be consigned to serfdom to save the Euro @ The Guardian In this article Mr. Gunnar Beck argues that the ISM might ruin Germany and leave the country in a … Continue reading “The tears I have cried over Germany have dried. I have washed my face.” – Marlene Dietrich →

The ESM violates Germany’s constitution and the EU treaties, a true trojan horse

Today Die Welt publishes an article signed by Gunnar Beck, professor of EU law at the University of London. In it, Mr. Beck dissects the ESM treaty and proves that it clearly violates both Germany's constitution and EU law. The ways in which the ESM violates german and/or EU law are the following: Unlimited capital. … Continue reading The ESM violates Germany’s constitution and the EU treaties, a true trojan horse →