German court questions eurozone crisis program

Published February 7, 2014 11:51am ET



BERLIN (AP) — Germany’s top court cast doubt Friday on the legality of a key part of the European Central Bank’s rescue plan for the 18-nation eurozone, taking the rare step of asking an EU court for its opinion.

The case involves the so-called Outright Monetary Transactions program, which allows the ECB to buy bonds of ailing eurozone members as an emergency measure. Though the program has never been used, its mere existence has been credited with easing the turmoil in bond markets that was threatening the euro currency bloc.

Already a print subscriber? Click here to login/register your account

Trusted reporting.Unlimited access.

Subscribe for full access to Washington Examiner coverage, expert political analysis, and subscriber-only journalism.

Get Unlimited Access

Already a member? Log in

Cancel anytime.