Unclear Objectives of ECB Monetary Policy Despite Decisions of the European Court of Justice and the German Constitutional Court

Martin Seidel, University of Bonn, explains that despite the rulings of the European Court and the German Constitutional Court, the objectives of the monetary policy of the European Central Bank are still unclear. What is still needed is a higher court decision on the extent to which the security of the European Monetary Union and the preservation of the euro are tasks of the ECB.