OMT program

German court

ECB’s OMT: The trick in German Constitutional Court’s sentence

MADRID | By Luis Arroyo | Germany set off a time bomb against the euro by transferring from the country’s constitutional court to European Court of Justice the decision about “legality” of ECB’s Outright Monetary Transactions’ program. Some Spanish analysts appear to be pleased with the sentence, contrarily to common sense: it is good that German Court starts to agree the European Union’s. They say that recognising Europe’s jurisprudence assures Community law’s unity. God bless their innocence.