CK and new co-host Ansel Lindner discuss the recent ruling in German courts that deemed QE activity by the European Central Bank to be illegal.
- German courts said ECB’s QE actions were illegal under German law
- EU law is supposed to trump German law
- German courts give ECB 90 days to stop QE
- Real risk of Euro break up
- Fun fact: European REPO is already separated by country
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Ansel Lindner on Twitter @AnselLindner
Christian Keroles on Twitter @ck_SNARKs
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What struck me was the close correllary between the ruling and Kentucky nullification acts in the US. This was German courts nullifying EU actions.