The ECB’s Bridge Too Far
The German Constitutional Court’s recent decision to refer the complaint against the ECB’s so-called “outright monetary transactions” to the European Court of Justice leaves the program’s fate uncertain. What is clear is that the economics behind OMT is flawed – and so is the politics.
https://prosyn.org/ezD1Lja
PRINCETON – The German Constitutional Court’s recent decision to refer the complaint against the European Central Bank’s so-called “outright monetary transactions” to the European Court of Justice (ECJ) leaves the scheme’s fate uncertain. What is clear is that the economics behind OMT is flawed – and so is the politics.