EUROZONE: PSPP and the risks of oversimplifying constitutional complexities

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● European institutions have given a lukewarm reception to the German constitutional court (BVerfG) ruling on the public sector purchase program (PSPP). ● While ECB President Christine Lagarde claimed the bank was undeterred by the ruling, other statements suggest that some EU decision makers want the ECB to ignore the ruling in the name of the supremacy of EU law. ● If that thinking came to inform the ECB’s next steps in response to the verdict, this might increase the risk that BVerfG orders the Bundesbank to quit PSPP. Reports suggest that some EU decision-makers are st
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