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But I have some questions:
Point 2 : I imagine that the German court ruling inspired them to short-circuit the ECB... which would have to further stretch its mandate if it were charged with raising the money, which would consist of direct monetary financing of the Commission's budget! (which is only OK if your an Anglo sovereign bank)
Point 3 : I dunno. And I'm too lazy to do the research.
It is rightly acknowledged that people of faith have no monopoly of virtue
- Queen Elizabeth II
The possibility has at least been publicly put on the table. By a former German minister, no less:
Ursula von der Leyen: Commission considering "infringement proceedings" over German court ruling against ECB
2. Is the Merkel/Macron proposal for the EU to borrow and spend 500 Billion a direct response to the Karlsruhe ruling?
According to Quatremer, this was Merkel's only way out: opposing Karlsruhe would trigger a constitutional crisis in Germany and siding with it would be dealing a possibly deathly blow to the EZ and the EU. She might have come to a similar position sooner or later, something that Macron has been waiting for years (Sorbonne speech). It seems like the court's overly nationalistic overreach may have forced Merkel's hand.
3. No idea either :)
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