Banking union is not EU overreach, says German court

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Banking union is not EU overreach, says German court

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D6DRKF A cameraman films the Federal Constitutional Court of Germany (BVerfG) in Karlsruhe, Germany, 12 September 2012. The BVerfG will on the same day announce its verdict on the permanent European Stability Mechanism and the European fiscal pact. Photo: ULI DECK | Alamy Stock Photo

Germany’s constitutional court said this week that the EU had not exceeded its powers when establishing the first two pillars of the banking union, dismissing a law suit brought forward by a group of academics.

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