ECB Suit by German Group Over Bond Purchases Fails at EU Court
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The European Central Bank avoided a legal challenge to its purchase of euro-area government debt and acceptance of Greek, Irish and Portuguese debt from banks as collateral after the bloc’s top court threw out the case.
A lower European Union court was right to reject the challenge by Stefan Staedter in Berlin as “manifestly inadmissible” because it was filed more than two months after the start of the ECB’s bond-buying program and decisions to accept collateral, the EU Court of Justice in Luxembourg said in a ruling published on its website.