Skip to comments.German court rules in favor of ECB crisis-fighting tool [European Central Bank bond-buying]
Posted on 06/21/2016 3:25:01 PM PDT by Olog-hai
Germanys top court ruled on Tuesday that a key crisis-fighting tool of the European Central Bank complies with German national law.
The constitutional court ruled that the ECBs 2012 bond-buying plan called Outright Monetary Transactions (OMT) complies with German law.
OMT though never actually used was part of ECBs President Mario Draghis landmark promise to do whatever it takes to save the battered euro at the height of the crisis in 2012. [ ]
The promise of OMT was that the ECB could, if necessary, buy up unlimited amounts of government bonds from debt-stricken countries that had pledged reforms such as Italy, Spain and Portugal.
(Excerpt) Read more at thelocal.de ...
Who would of ever thought they could save themselves by just Printing Money??