Helmut Siekmann comments amendments to financial constitution of German Basic Law

In the nineth edition of the commentary on German Basic Law edited by Michael Sachs, Helmut Siekmann clarifies the recent amendments to the financial constitution and the requirements regarding the community tasks as well as the article on the Bundesbank and the European Central Bank (ECB). Overall, Siekmann comments on more than 30 articles of the German Constitution in the recent edition of the Sachs commentary, which also contains a comprehensive introduction to the German financial laws by Siekmann.

Already since the publication of the first edition in 1996, Siekmann has been responsible for commenting on section X of the German Basic Law, which encompasses all regulations of the financial constitution, and on the constitutional guidelines regarding the financing of the statutory social insurance scheme. Modifications of the edition commented by Siekmann especially involve amendments of the Basic Law to create the possibility of granting federal financial assistance for investments of national importance by the states, municipalities and associations of municipalities in the areas of municipal infrastructure (so-called Digital Pact) and social housing construction.

In detail, Siekmann comments on article 88 on Bundesbank and ECB, all regulation within section VIII regarding community tasks and administrative cooperation (articles 91a, 91b, 91c, 91d, 91e) and section X on the financial system (articles 104a, 104b, 104c, 104d, 105, 106, 106a, 106b, 107, 108, 109, 109a, 110, 111, 112, 113, 114, 115) as well as articles  120, 120a, 125c, 143c, 143d, 143f, 143g and 143h and gives an 70-page introduction to the German financial laws preceding article 104a.

Prof. Dr. Dr. h.c. Helmut Siekmann is a Distinguished Professor. Previously, he held the Endowed Chair of Money, Currency and Central Bank Law at the IMFS until March 2018.

Michael Sachs (Hrsg.), Grundgesetz-Kommentar, 9. Auflage, Verlag C.H. Beck