Advocate General’s Opinion in Case C-62/14 Peter Gauweiler and Others v Deutscher Bundestag

The European Court of Justice's Advocate General’s Opinion in Case C-62/14 Peter Gauweiler and Others v Deutscher Bundestag was announced on the 14 January 2015. According to Advocate General Cruz Villalón, the ECB’s Outright Monetary Transactions programme was compatible, in principle, with the TFEU. If the programme was implemented, its compatibility will depend on certain conditions being met.

It is important to recognise that the Opinion of the ECJ’s Advocate General Cruz Villalón, is just one stage of the judicial process of the ECJ. The Court as a whole would issue a final ruling in the coming months.

That judgment would then be referred back to the German Constitutional Court for their final ruling on the original case brought against the OMT by German nationals.

• Primary Source

BBC News, 14.01.15: EU lawyer approves ECB bond-buying programme http://www.bbc.co.uk/news/business-30810137

ESO: Background information: ECJ legal rulings designed to help the Eurozone are threatening the accountability of European governance http://www.europeansources.info/record/ecj-legal-rulings-designed-to-help-the-eurozone-are-threatening-the-accountability-of-european-governance/

ESO: Background information: Did the German court do Europe a favor? http://www.europeansources.info/record/did-the-german-court-do-europe-a-favor/

ESO: Background information: The German Constitutional Court’s decision about the European Central Bank’s OMT mechanism: A masterpiece of judicial arrogance http://www.europeansources.info/record/the-german-constitutional-courts-decision-about-the-european-central-banks-omt-mechanism-a-masterpiece-of-judicial-arrogance/

ESO: Background information: The German Constitutional Court's ruling on the ECB's bond buying decision http://www.europeansources.info/record/the-german-constitutional-courts-ruling-on-the-ecbs-bond-buying-decision/

Deutsche Welle, 12.01.15: Is the ECB allowed to buy sovereign bonds? http://dw.de/p/1EJ7J

ESO: Background information: Euro touches a nine-year low against US dollar http://www.europeansources.info/record/euro-touches-a-nine-year-low-against-us-dollar/

Blog: Open Europe, 14.01.15: ECJ opinion validates ECB bond buying but puts German Court in tough position http://openeurope.org.uk/blog/ecj-opinion-validates-ecb-bond-buying-puts-german-court-tough-position/

Deutsche Welle, 14.01.15: Top EU court says ECB bond-buying is legal http://dw.de/p/1EJoM

ECB: Press Release, 14.01.15: Comments by Yves Mersch, Member of the Executive Board, on the legal opinion of the Advocate General of the European Court of Justice in the OMT case https://www.ecb.europa.eu/press/pr/date/2015/html/pr150114.en.html

EUObserver, 14.01.15: EU top lawyer backs ECB bond programme https://euobserver.com/news/127207

Euro|Topics: Main Focus, 15.01.15: ECJ signals approval for ECB plans http://www.eurotopics.net/en/home/presseschau/archiv/archiv_dossier/DOSSIER156693-ECJ-signals-approval-for-ECB-plans

Blog: EurActiv.eu: ACELG, 19.01.15: European Central Bank’s room for manoeuvre provisionally confirmed http://acelg.blogactiv.eu/2015/01/19/european-central-bank%E2%80%99s-room-for-manoeuvre-provisionally-confirmed/

Blog: LSE EuroppBlog, 19.01.15: We should be wary of removing the ECB from the troika to facilitate the use of outright monetary transactions http://bit.ly/1Ccv96B

Blog: EU Law Analysis, 17.01.15: Is the ECB’s OMT programme legal? The Advocate-General’s Opinion in Gauweiler http://eulawanalysis.blogspot.co.uk/2015/01/is-ecbs-omt-programme-legal-advocate.html

Blog: Open Europe, 02.04.15: Is Merkel facing a Bundestag rebellion on Greece? http://openeurope.org.uk/blog/is-merkel-facing-a-bundestag-rebellion-on-greece/

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