“The complaint has been received by Germany’s Constitutional Court and will be processed” a spokesperson said without giving further details. He declined to name the individuals who had filed the motion for privacy reasons.
 
The newspaper initially reported that the complaint was about whether the ECB had overstepped its mandate by extensively buying government bonds and with its plan to start buying corporate bonds.
 
ECB monetary policy has been under criticism in Germany during recent weeks. Many German politicians argue that low interest rates are hitting German’s savings and pensions. However, the ECB’s monetary policy has to respond to the needs of all Eurozone member states.
 
The complaint over the mass bond-buying program is the latest chapter in a long-running tussle between the ECB and a group of academics and entrepreneurs in Germany who have taken legal steps to try to curb the bank’s power.