Banking union faces legal challenge in Germany

On the 28 July 2014 EurActiv reported that Germany's constitutional court(Bundesverfassungsgericht) was once again to be a testing ground for the eurozone's reponse to the financial crisis as five academics filed a case arguing that the banking union was illegal.

The academics argued that the Banking union - a new supervisory and bank resolution system for eurozone banks - breached German law as it was not agreed with the right treaty changes.

ESO: Background information: German ruling party ponders limiting powers of top court http://www.europeansources.info/record/german-ruling-party-ponders-limiting-powers-of-top-court/

Website: Federal Constitutional Court / Bundesverfassungsgericht http://www.bundesverfassungsgericht.de/en/

Blog: Open Europe:, 28.07.14: Banking Union challenged at the German Constitutional Court http://openeuropeblog.blogspot.co.uk/2014/07/banking-union-challenged-at-german.html

Open Europe: Tag: German Constitutional Court http://openeuropeblog.blogspot.co.uk/search/label/German%20Constitutional%20Court

EurActiv,29.07.14: German economist group attacks European banking union http://www.euractiv.com/sections/euro-finance/german-economist-group-attacks-european-banking-union-303775

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