Germany's Budget Ruling Puts EU Spending and Green Shift at Risk

A German ruling has dealt a blow to EU spending plans, potentially impacting the bloc's ability to fund key initiatives. The ruling by Germany's Constitutional Court stated that the European Central Bank's bond-buying program was partially unconstitutional, and called for the German government to ensure that the ECB provides a "proportionate justification" for its actions. This decision could complicate the EU's plans to issue joint debt to fund its recovery from the COVID-19 pandemic.