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As countries around the world increasingly ease their various lockdowns, one awkward fact remains – the Covid-19 disease has neither vanished nor been vanquished. And this has the capacity to pose some difficult questions as societies step up their search for normality.
The German Constitutional Court’s ruling, in its judgment of 5 May, that the ECB has acted beyond its authority is much more than a technical assessment of the ECB’s bond-buying programmes. It is a legal and constitutional challenge to the principle of the supremacy of EU law over national law, and it is slowly dawning on people that the consequences for the EU are far from trivial.
After every national trauma, there is the opportunity to do things better in future. It is a chance to redress the most grievous of society’s ills. What will follow the Corona Crisis? We think there will be a renewed attention on the value society places on different contributions to our communal welfare, a new assessment of the value of each person’s labour. And foremost in the firing line will be executive pay.