German Court Defers to Draghi as Euro’s Judge and Jury

Germany’s supreme judges have decided to let Mario Draghi be the euro’s monetary judge, at least for now.

While doubting the legality of the European Central Bank’s 2012 bond-buying plan that defused the euro crisis, the top German court conceded yesterday that it is powerless to impose a veto. It bowed to a future judgment by the European Union’s high court, leaving Draghi’s pledge to do “whatever it takes” to save the euro unquestioned for a year or more.