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Business

Berlin defends ECB bond plan in court

Posted

June 11 - Germany's Constitutional Court is holding a hearing to look into charges that the ECB's Outright Monetary Transactions (OMT) programme is really a vehicle to fund euro zone member states through the back door, which would be a violation of German law. Since being announced by Mario Draghi last year, the ECB hasn't bought any bonds of any struggling euro zone governments, but the programme has been credited with calming the markets. As Joanna Partridge reports, the court's failure to approve the scheme could have big implications.

Business

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