- History
Expected Impact / Date | Description |
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Jun 16, 2015 | The European Court of Justice is due to announce a ruling regarding the constitutionality of the ECB's Outright Monetary Transactions (OMT) policy, in Luxembourg; |
Jan 14, 2015 | The European Court of Justice is due to announce a preliminary, non-binding ruling regarding the constitutionality of the ECB's Outright Monetary Transactions (OMT) policy, in Luxembourg; |
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- EUR European Court of Justice Ruling News
- From bloomberg.com|Jun 16, 2015|2 comments
The European Central Bank’s 2012 bond-buying program won the backing of the European Union’s highest court, expanding Mario Draghi’s crisis-fighting arsenal. The EU Court of Justice, in a ruling in Luxembourg Tuesday, said the Outright Monetary Transactions program doesn’t exceed the powers of the ECB in relation to monetary policy. The tribunal said there are some conditions on the plan, which have been met. The court has been examining the OMT program since Germany’s own top court last year sought guidance on the case. The German ...
- From @livesquawk|Jun 16, 2015|4 comments
ECB Wins Backing For 2012 OMT Bond Buying Plan - BBG; Plan Is Binding, Cannot Be Appealed
- From forexcrunch.com|Jun 14, 2015|4 comments
EUR/USD had another busy week, with Greece playing an increasing role in shaping the direction. An important German survey and inflation numbers stand out. Here is an outlook for the highlights of this week and an updated technical analysis for EUR/USD. German industrial output beat expectations and was one of the reasons for the positive start for the pair, together with rising German yields. However, then Greece took over. Optimism about a German compromise on a deal helped only temporarily, and things worsened quite quickly, with ...
- From @ecb|Jan 14, 2015
ECB takes note of Advocate General's opinion. This is an important milestone in request for preliminary ruling. OMT is ready and available.
- From curia.europa.eu|Jan 14, 2015
By 2010 the international financial crisis that began in 2008 had become a sovereign debt crisis in various States of the euro area. When, in the summer of 2012, investors’ doubts about the continued survival of the euro became increasingly widespread, that prompted apparently unstoppable increases in the risk premia for the government bonds of those States, leading to a critical financial situation. In that exceptional situation, the ability of the European Central Bank (“ECB”) to properly carry out its monetary policy mandate was ...
- From zerohedge.com|Jan 14, 2015
Almost a year ago, the German top court found that ECB's OMT is "illegal", then promptly washed its hands of the final decision, and kicking the ball in the court of the European Court of Justice. Moments ago, the Advocate General Pedro Cruz Villalon of the EU Court of Justice in Luxembourg delivered the non-binding opinion on issue of Mario Draghi's "unconditional" OMT. Here are the details from Reuters and Bloomberg: EU COURT ADVISER SAYS OMT PROGRAMME IN LINE WITH EU LAW SO LONG AS CERTAIN CONDITIONS MET EU COURT ADVISER SAYS OMT ...
- From forexlive.com|Jan 14, 2015|4 comments
No further details at present hence muted response from euro but a tad lower initially as expectations are that the ruling helps clears the way for QE next week; Rtrs reporting; Update: OMT legitimate so long as there is no direct involvement in financial assistance programme that applies to state in question; ECB must outline its reasons for adopting unconventional measures such as OMT; I can’t that being a problem for Draghi to conjure up; EURUSD lower again at 1.1785 EURGBP 0.7755 EURJPY 137.65; if OMT put into practice ...
- From @TradeDesk_Steve|Jan 14, 2015|12 comments
BREAKING
Released on Jun 16, 2015 |
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Released on Jan 14, 2015 |
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- Details