The European Central Bank’s flag-ship bond-buying scheme, which was widely credited with staving off the eurozone debt crisis in 2012, is in line with the EU treaties, the bloc’s top court has said.
In a ruling on Tuesday (16 June), the European Court of Justice threw out a German legal challenge to the bank’s Outright Monetary Transactions (OMT) programme, which it said “falls within monetary policy and therefore within the powers of the ESCB”.
ECB boss Mario Draghi announced the...
Enjoy access to all articles and 25 years of archives, comment and gift articles. Become a member for as low as €1,75 per week.
Already a member? Login