The German Constitutional Court’s ruling on the ECB’s bond buying decision

Author (Corporate)
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Series Details 10.02.14
Publication Date 10/02/2014
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On 6 September 2012, the Governing Council of the European Central Bank (ECB) confirmed its President, Mario Draghi’s announcement that the ECB would purchase government bonds on secondary markets, known as Outright Monetary Transactions (OMT).

Germany’s Federal Constitutional Court (BVerfG) was called upon to consider the legality of OMT within a case on the constitutionality of German ratification of the European Stability Mechanism (ESM).

Source Link http://www.europarl.europa.eu/RegData/bibliotheque/briefing/2014/140761/LDM_BRI%282014%29140761_REV1_EN.pdf
Related Links
ESO: Background information: German Constitutional Court refers ECB bond-buying to Europe's top court http://www.europeansources.info/record/german-constitutional-court-refers-ecb-bond-buying-to-europes-top-court/

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