4. ECJ begin investigation into bond buying

  • The European Court of Justice has today begun an investigation into ECB.
  • Court investigating legality of ECB bond buying programme, known as Outright Monetary Transactions (OMT).
  • Investigating if OMT amounts to ECB buying sovereign debt, which is illegal under its mandate. 
  • OMT programme began in 2012; Deutsche Welle says experts expect court to find ECB clear of wrongdoing.