German State Of Saxony Supports Legal Action Against ECB
Since there have been tens of thousands of lawsuits filed internally in Germany with its constitutional court alleging the ESM is illegal, it was only a matter of time before the Germans decided to sue the ECB as well for its "unlimited" bond buying. The time has arrived. From Bloomberg:
- TILLICH SUPPORTS LEGAL STEPS AGAINST ECB BOND BUYING: WELT
- TILLICH SAYS ECB BOND BUYING SIGNALS EFSF, ESM NOT ENOUGH: WELT
- TILLICH: ECB MANDATE SHOULD NOT INCL. UNLIMIT. BOND BUYING:WELT
Perhaps all those rumors of the Bundesbank's death were, as we expected, rather exaggerated.