German Lawsuits Targeting ECB’s OMT Won’t Be Decided This Year
This article is for subscribers only.
Germany’s top court won’t rule on lawsuits challenging the European Central Bank’s plan to buy bonds of crisis-torn countries before the end of the year.
Several suits are targeting the central bank’s Outright Monetary Transactions program, arguing it oversteps the ECB’s mandate to conduct monetary policy. No ruling will be made this year, Bernd Odoerfer, a spokesman for the Federal Constitutional Court in Karlsruhe, said in an e-mailed statement today.