Whether a decision of the European Court of Justice had been rendered ultra vires for not having identified the flaws of the decisions of the European Central Bank (‘ECB’) to implement a public sector asset purchase programme (‘PSPP’), and thus had no binding effect in a member state.
Whether decisions of the ECB to implement a PSPP were ultra vires acts because they did not satisfy the principle of proportionality.
Whether a PSPP constituted an ultra vires act, given the ECB’s failure to substantiate that the programme was proportionate.
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