Posted on 06/21/2016 3:25:01 PM PDT by Olog-hai
Germany’s 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 ECB’s 2012 bond-buying plan called Outright Monetary Transactions (OMT) complies with German law.
OMT — though never actually used — was part of ECB’s President Mario Draghi’s 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??
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