Le cas de l'Allemagne contre la BCE

MUNICH – La Cour constitutionnelle allemande se prépare à ce qui pourrait devenir la décision la plus importante de son histoire. En septembre dernier, la Cour a autorisé le gouvernement allemand à signer le Traité instituant le Mécanisme Européen de Stabilité (MES), un dispositif de sauvetage intergouvernemental permanent de la zone euro. A présent cependant, il se pourrait qu'elle tente d'arrêter le programme de transactions appelées « opérations monétaires à terme sec » (OMT) de la Banque Centrale Européenne (l'engagement de la BCE d'acheter sans limite des emprunts d'Etat à des pays de la zone euro en difficulté soumis aux conditions du MES).

La Cour allemande n'a bien sûr aucune autorité sur la BCE et n'a donc aucun pouvoir pour juger ses actions. La seule institution qui dispose de ce pouvoir est la Cour Européenne de Justice du Luxembourg. Mais la Cour constitutionnelle allemande peut juger si les actions des institutions de l'UE sont compatibles avec sa constitution et les traités de l'Union Européenne.

Si la cour constate que les actions de la BCE sont illégales, elle peut contraindre les institutions allemandes, y compris le parlement allemand. Par exemple, elle pourrait interdire à la Bundesbank de participer au programme des OMT. Ou elle pourrait encore décider que la participation du gouvernement allemand au MES doit être subordonnée à la volonté de la BCE de limiter les OMT. Udo Di Fabio, ancien juge renommé à la cour, a argué du fait que le tribunal pourrait même forcer le gouvernement allemand à revoir les traités de l'UE s'il ne réussit pas à limiter le programme des OMT.

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