German court injunction a ‘game changer’ for EU recovery fund ratification

EU_court_scales_Adobe_575x375_240920
By Burhan Khadbai
31 Mar 2021

The European Union’s planned €750bn coronavirus recovery fund is facing a lengthy delay to its inception, and possible derailment, after Germany’s Federal Constitutional Court issued an injunction to block its ratification by the Bundestag, writes Burhan Khadbai.

Last Thursday, the Bundestag voted to ratify the EU’s own resources decision, which determines how the bloc finances its budget and would allow the bloc to begin borrowing debt. The national parliaments of each EU member state must ratify the move.

However, the following day, the Federal Constitutional ...

Already a subscriber?

Continue reading this article

Try full access to GlobalCapital

Free trial

Want to learn more? View subscription options