ECJ opinion validates ECB bond buying but puts German Court in tough position
The European Court of Justice has this morning released a crucial Advocate General opinion on the legality of the ECB’s Outright Monetary Transactions (OMT) – its bond buying programme. The Court found the programme in line with EU law but flagged up certain conditions for its use. Open Europe’s Raoul Ruparel explains what all this means and why it could put the German Constitutional Court in a tricky situation.
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