German top court criticizes ECB crisis bond-buying

German top court criticizes ECB crisis bond-buying

Germany’s top court ruled that the European Central Bank’s (ECB) mass bond-buying to stabilize the eurozone partly violates the German constitution. The ruling relates to sovereign bonds bought by the ECB since 2015, but excludes purchases in the current COVID-19 crisis. The court said there was not enough political oversight in the purchases. Bundesbank carries the most weight in the decisions.

Chris
Chris
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