Some Preliminary Remarks on the PSPP Decision of the German Constitutional Court

Karlsruhe’s PSPP decision will not be hard to address as to its actual legal outcome, contrary to what might seem at first instance. But its market effects may be highly problematic. The uncertainty the decision will generate in the short term and the constraints arising from the obiter dicta of the Court for Germany’s participation in the EU response to the Coronavirus situation will likely have some serious negative effects.