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15 Jan 2016
German constitutional court to debate ECB OMT on Feb 16 - MNI
FXStreet (Mumbai) - German Constitutional court is expected to debate ECB OMT ruling on Feb 16, MNI reports.
In June last year, the Court of Justice of the European Union (ECJ) confirmed that the Outright Monetary Transactions (OMT) programme announced in 2012 was compatible with EU law and within the ECB’s competences.
The Court stated that the ECB must be allowed “broad discretion” when it “prepares and implements an open market operations programme” as it needs “to make choices of a technical nature and undertake forecasts and complex assessments.”
In June last year, the Court of Justice of the European Union (ECJ) confirmed that the Outright Monetary Transactions (OMT) programme announced in 2012 was compatible with EU law and within the ECB’s competences.
The Court stated that the ECB must be allowed “broad discretion” when it “prepares and implements an open market operations programme” as it needs “to make choices of a technical nature and undertake forecasts and complex assessments.”