Two decisions in June will shape the future of Europe: the ruling by Germany's Constitutional Court on whether the Bundesbank may participate in the ECB's bond-buying program and the UK's referendum on continued EU membership. Whatever the outcome, the era of unconditional trust in the EU and its institutions has come to an end.
MUNICH – June is shaping up to be a fateful month for the European Union. On June 21, the German Constitutional Court will rule on a challenge to a bond-buying program that is central to the European Central Bank’s response to the continent’s debt crisis. Two days later, voters in the United Kingdom will decide whether the UK should exit the EU. Both decisions will have serious consequences for the EU’s long-term political and economic stability.
MUNICH – June is shaping up to be a fateful month for the European Union. On June 21, the German Constitutional Court will rule on a challenge to a bond-buying program that is central to the European Central Bank’s response to the continent’s debt crisis. Two days later, voters in the United Kingdom will decide whether the UK should exit the EU. Both decisions will have serious consequences for the EU’s long-term political and economic stability.