The European Central Bank Christine Lagarde, President of the ECB, does not see the ruling of the German Constitutional Court as an obstacle to the central bank's purchase program. Lagarde said at a news conference that the verdict is addressed to the German government and parliament. The ECB is an institution under the European Court of Justice, Lagarde said.
Lagarde said he was confident that a solution would be found that would not erode the independence of the ECB, the primacy of EU law or the previous line of the European Court of Justice, which ruled that the purchase program was in line with the Treaties.
The court questioned the legality of the € 2.6 trillion purchase program launched in 2015 and required clarification as to whether the program was proportionate to the objectives.