German court ‘won’t intervene’ in ECB plan to buy bonds

Germany’s top court probably won’t intervene in the ECB’s plan to buy bonds of crisis-torn countries, in line with previous cases involving the country’s integration with the EU.

The ECB’s outright monetary transactions programme and the European Stability Mechanism (ESM) will be reviewed by the Federal Constitutional Court in Karlsruhe at hearings this week.

While the judges may voice doubts about the central bank’s plans, the court won’t stop it, according to Christoph Ohler, a law professor at Jena University.