Merkel Backs ECB Plan as Court Told to Throw Out OMT Case
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Chancellor Angela Merkel voiced support for the European Central Bank’s OMT bond-buying plan as government lawyers told Germany’s top court that a case against the program should be thrown out.
“We know these instruments are very controversial,” Merkel said in a speech in Berlin as the Federal Constitutional Court began a hearing in the southern city of Karlsruhe today over European Union bailout measures. “The European Central Bank is doing what is necessary to ensure monetary stability.”