Gerrit Dijkstra in de Volkskrant about a new collision course
The German government recently asked the European Central Bank to account for a programme that already ended. Gerrit Dijkstra, assistant professor at Leiden University, wrote an opinion piece for de Volkskrant about how this tick is a sign of a new collision course.
Dijkstra describes in the article how the German Constitutional Court has asked the European Central Bank to account for a programmem aimed at managing the financial crisis. This programme was overseen by Mario Draghi, then ECB President at the time, and involved many tens of billions of euros per month.
This programme has now ended and it is not clear what this request means for the German central bank. According to Dijkstra, it is more important what the current corona crisis means for existing and new support programs. According to Gerrit this is a question that is difficult to answer, but he can sketch the historical background that is needed to understand what makes these conflicting court rulings possible.
To read more about this historical background, the launch of a new collision course and the full article (Dutch), click here.