The European Central Bank’s programme allowing it to buy potentially unlimited supplies of government bonds to protect against speculative attack is within EU law, a top EU lawyer has said.
In a legal opinion released on Wednesday (14 January), European Court of Justice advocate general Pedro Cruz Villalon found that the Outright Monetary Transactions (OMT) programme did not breach the ECB’s mandate under the EU treaties.
“The objectives of the programme are in principle legitimat...
Back our independent journalism by becoming a supporting member
Already a member? Login hereBenjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.
Benjamin Fox is a seasoned reporter and editor, previously working for fellow Brussels publication Euractiv. His reporting has also been published in the Guardian, the East African, Euractiv, Private Eye and Africa Confidential, among others. He heads up the AU-EU section at EUobserver, based in Nairobi, Kenya.