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ECJ: Green light to ECB’s bond purchase

LONDON | Barclays analysts | The European Court of Justice has already published its opinion about the Outright Monetary Transaction (OMT): the ECB’s anti-crisis plan was “necessary” and “in principle” is in line with EU law. This much awaited opinion  will have important implications for any broad-based ECB government bond purchases (QE), which we think are likely to be announced next week.