Germany's top court rules in favour of ECB crisis-fighting tool
Germany's top court rules in favour of ECB crisis-fighting tool
Karlsruhe (Germany) - Arab Today
Germany's top court ruled Tuesday that a key crisis fighting tool of the European Central Bank complies with German national law, throwing out objections by a group of eurosceptics.
The constitutional court ruled that the ECB's 2012 bond-buying plan called Outright Monetary Transactions (OMT) complies with German law.
OMT -- though never actually used -- was part of ECB's President Mario Draghi's landmark promise to do "whatever it takes" to save the battered euro at the height of the crisis in 2012.
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Dubai - Arab Today
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