ECJ abolishes rule of law

This place is getting increasingly surreal:

This week the Court of First Instance of the Luxembourg-based Court of Justice of the European Communities ruled that decisions of the United Nations Security Council take precedence over national constitutions, European law and even the European Convention for the Protection of Human Rights and Fundamental Freedoms (ECHR). This ruling undermines the rule of law and the principles of the constitutional state and of democracy.

Though this ruling was used to keep a suspected terrorist's assets frozen, which would seem to be a good idea, there was no need to create such a problematic general principle to do so:

Though terrorism should be combated by the international community, Jos Verhulst pointed out that Wednesday’s verdict effectively implies that decisions of the Politburo of the Chinese Communist Party can gain precedence over the European Human Rights Convention. China is a member of the Security Council and its position can determine the outcome of Security Council decisions. What is the value of "human rights" which in the hierarchy of values rank lower than the preferences of the Chinese CP.

What were they thinking?