Germany's top court rules in favour of ECB crisis-fighting tool

GMT 08:47 2016 Tuesday ,21 June

Arab Today, arab today Germany's top court rules in favour of ECB crisis-fighting tool

Germany's top court rules in favour of ECB crisis-fighting tool
Karlsruhe (Germany) - Arab Today

Germany's top court ruled Tuesday that a key crisis fighting tool of the European Central Bank complies with German national law, throwing out objections by a group of eurosceptics. 

The constitutional court ruled that the ECB's 2012 bond-buying plan called Outright Monetary Transactions (OMT) complies with German law.

OMT -- though never actually used -- was part of ECB's President Mario Draghi's landmark promise to do "whatever it takes" to save the battered euro at the height of the crisis in 2012.

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