German constitutional court to rule on OMT ‘in a few months’
OMT programme “in principle available”, but conditions for its use do not currently exist, Mersch says
Germany's constitutional court is reviewing whether it is legal under German law for the European Central Bank (ECB) to conduct outright monetary transactions (OMTs) – an as-yet-unused policy announced during Europe's sovereign debt crisis.
Under an OMT programme, the ECB would buy government bonds in potentially unlimited amounts to counter any ‘redenomination risk' pushing up a country's borrowing costs. In June 2015, the European Court of Justice (ECJ) ruled OMTs would be constitutional under
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