ECJ: Compensation if violated fundamental rights of austerity measures
According to a decision of the European Court (ECJ) of 20 September 2016, European citizens can sue the European Bank and the European Commission, in the event that demonstrably violated their fundamental rights.
The reason for this decision was the action affected by the shearing of the Cypriot bank deposits over € 100,000 (in 2013) by the European Commission and the European Central Bank, seeking compensation for the damage suffered.
And although the ECJ considered that the measures aimed at the stability of the banking system and serving the common good of the European Union and well received, but alongside, the judges concluded that it is first possible to request compensation from the European Commission or the ECB if violated fundamental rights of claimants.
This means that citizens in countries where austerity is imposed can invoke instance the particularly serious damage to their health in the event that they can not obtain the necessary drugs. Prerequisite is, of course, the absolutely documented claim and natural by-case decision of the judges.
Specifically But in the case of deposits of Cypriots the ECJ ruled that "taking into account the objective of ensuring the stability of the banking system of the euro area and the immediate risk of financial loss, which would run the depositors of their two banks if such bankruptcy, these measures do not constitute disproportionate and unacceptable interference, impairing the very substance of the appellants' right to property. Consequently, they can not be regarded as an unjustified restriction of that right. "
According to a decision of the European Court (ECJ) of 20 September 2016, European citizens can sue the European Bank and the European Commission, in the event that demonstrably violated their fundamental rights.
The reason for this decision was the action affected by the shearing of the Cypriot bank deposits over € 100,000 (in 2013) by the European Commission and the European Central Bank, seeking compensation for the damage suffered.
And although the ECJ considered that the measures aimed at the stability of the banking system and serving the common good of the European Union and well received, but alongside, the judges concluded that it is first possible to request compensation from the European Commission or the ECB if violated fundamental rights of claimants.
This means that citizens in countries where austerity is imposed can invoke instance the particularly serious damage to their health in the event that they can not obtain the necessary drugs. Prerequisite is, of course, the absolutely documented claim and natural by-case decision of the judges.
Specifically But in the case of deposits of Cypriots the ECJ ruled that "taking into account the objective of ensuring the stability of the banking system of the euro area and the immediate risk of financial loss, which would run the depositors of their two banks if such bankruptcy, these measures do not constitute disproportionate and unacceptable interference, impairing the very substance of the appellants' right to property. Consequently, they can not be regarded as an unjustified restriction of that right. "
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