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In a stunning turn of events, the German constitutional court announced that the European Central Bank (ECB) Asset Purchase Program (APP) might be unconstitutional under the German law. The vote over the approval of the APP program was expected to show its legality – and it did, as the court ruled 7:1 in its favor. However, changes to the statement undermine the Euro and the European project.
Effectively, the court said that the ECB had…
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