Eine Nachlese zur Anhörung des Verfassungsgerichts

MÜNCHEN – Das deutsche Verfassungsgericht bereitet gegenwärtig die wohl wichtigste Entscheidung seiner Geschichte vor. Während das Gericht im letzten September grünes Licht für den Rettungsschirm ESM gab, könnte es nun das OMT-Programm der EZB zu stoppen versuchen. Dieses Programm besteht in der Ankündigung, die Staatspapiere der Krisenländer zu kaufen, wenn sie diese Länder notleidend werden und sich den Regeln des ESM unterwerfen.

Natürlich kann das deutsche Verfassungsgericht der EZB keine Befehle geben. Das kann nur der Europäische Gerichtshof in Luxemburg. Doch kann das Gericht sein eigenes Urteil darüber fällen, ob die Aktionen von EU-Organen mit dem Grundgesetz und den EU-Verträgen kompatibel sind, und falls es glaubt, dies sei nicht der Fall, die Handlungen deutscher Institutionen, sogar jene des Bundestags, einschränken. Ex-Verfassungsrichter Udo di Fabio meinte gar, das Gericht könne die Bundesregierung zwingen, aus dem Maastrichter Vertrag auszusteigen, falls es ihr nicht gelänge, das OMT auszuhebeln.

Befürworter des OMT-Programms führen an, dass die Ankündigung, die Papiere eines Staates im Notfall zu kaufen, die Märkte sichtlich beruhigt hat. Es sorge für ein gutes Gleichgewicht mit niedrigen Zinsen, die die Fortsetzung der Verschuldung erlauben. Überall auf der Welt kauften die Zentralbanken große Mengen an Staatspapiere, insbesondere auch in den USA.

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