Economics
ECB’s First Problem on German Court’s QE Demand Is Who Responds
- Some policy makers say Bundesbank should handle the matter
- German central bank has only offered to “support” ECB efforts
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The key question emerging from European Central Bank discussions after Germany’s constitutional court legal bombshell is who will defuse it.
While the Governing Council hasn’t decided on a plan to respond to Tuesday’s ruling, which declared the ECB’s biggest bond-buying program potentially unconstitutional, members are split on who takes the lead, according to people familiar with the matter.