ECB's Mario Draghi faces ongoing German ‘angst’

German constitutional court ruling set to cause more problems ahead

Klaus Engelen

On February 7, 2014, Germany’s Federal Constitutional Court (FCC), in 40 text-heavy pages, reached its verdict on the European Central Bank’s (ECB) outright monetary transactions (OMTs). “There are important reasons to assume that [OMTs] exceed the ECB’s monetary mandate and thus infringes the powers of the member states and that it violates the prohibition of monetary financing of the budget,” the court said.

The majority of six judges, with two dissenting, added they were inclined “to regard

Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact info@centralbanking.com or view our subscription options here: http://subscriptions.centralbanking.com/subscribe

You are currently unable to copy this content. Please contact info@centralbanking.com to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to Central Banking? View our subscription options

Register for Central Banking

All fields are mandatory unless otherwise highlighted

This address will be used to create your account

Most read articles loading...

You need to sign in to use this feature. If you don’t have a Central Banking account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account

.