Weidmann accepts OMT as ministers discuss Draghi succession

Jens Weidmann

Jens Weidmann publicly accepted the European Central Bank’s ability to use outright monetary transactions (OMT).

His public statement is likely to be seen as a bid to boost his candidacy to become the next president of the ECB.

In an interview with the German Weekly Die Zeit on June 19, the president of the Bundesbank softened his opposition to ECB’s sovereign-bond buying programme. “The European Court of Justice has examined OMT and determined it to be legal. Moreover, OMT is current policy,”

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