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German Top Court to Rehear Arguments in ECB Bond-Buying Case

  • Federal Constitutional Court schedules hearing for Feb. 16
  • Judges to review 2012 bond-buying plan after EU court ruling

Germany’s top court next month will rehear five lawsuits alleging that the country should oppose the European Central Bank’s 2012 bond-buying program even after European Union judges last year cleared it with minor strings attached.

The Federal Constitutional Court, which will have to make a final ruling in the cases after receiving guidelines from the European Court of Justice, will rehear the lawsuits Feb. 16, the tribunal said in a statement Friday. The German judges will address whether the ECJ’s backing of the Outright Monetary Transactions program and the potential action by the ECB are in line with German constitutional principles.