A German court has set a bomb under the EU legal order by questioning the European Central Bank’s 2015 programme to buy sovereign bonds. The judges gave German institutions three months’ notice after which if the ECB has not complied with their doctrine, the Bundesbank and other German entities are banned from participating in the quantitative easing programme. It appeared to have taken it upon itself to the role of interpreting this area of EU law; which would pave the way for other national constitutional courts to challenge the European legal order and the European Court of Justice in other areas. There are already disputes with Hungary and Poland about the implementation of European law.
All very arcane and legalistic and the economics are beyond me but Germany has always, along with the Netherlands, been the sticking point for any bale out for Italy, Spain, Greece etc – which argument will come to a head sooner rather than later.
The Germany/EU relationship chart does have tr Uranus conjunct the financial 8th house Taurus Moon exactly now, and repeating into early 2021. So the Karlsruhe ruling has hit home. And the upcoming December Solar Eclipse will be conjunct the composite Saturn for a battle of wills over differing definitions of the rules and responsibilities involved in the joint project. Into 2021 through till late 2022 tr Pluto will conjunct the composite Neptune for continuing confusion, disappointment, even devastation. So the relationship is not likely to improve over the immediate future.
Germany itself will be undergoing massive changes over the next several years with tr Pluto opposition their 10th house Uranus in 2021/22; and the erratic and unpredictable tr Uranus moving through their financial 8th house starting two months back and extending on for several years. Tr Uranus conjunct their 8th house controlling Pluto in 2022/23 will be particularly disruptive. And even before then, this June’s Cancer Solar Eclipse will oppose the Germany Saturn and square Mars which is likely to reap an unhappy whirlwind in the months following.
And the EU won’t have its economic troubles to seek either with tr Uranus also now into their 8th house and aiming to conjunct the 8th house Moon and square Uranus from this July onwards – so the financial heat will be rising.