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Important to remember that the..............>

GERMANY
GERMANY: Important to remember that the Constitutional Court decision relates to
the PSPP (public sector purchase programme), rather than the COVID-19 related
PEPP (pandemic emergency purchase programme).
- The problem for the PEPP is that the court's decision lays out that the
Federal government and the Bundestag must ensure the ECB conducts
proportionality assessments on asset purchases, something that may not be the
case at present given the flexible and ad hoc nature of the PEPP. 
- As such, further legal challenges relating to PEPP cannot be ruled out.  

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