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11 Jun 2013
Flash: Eurozone financial crisis debate and hearing over ESM and ECB’s OMT programme
FXstreet.com (London) - TD Securities highlighted the ECB’s court hearing up today while the eurozone debate continues
They explained that the German Constitutional Court begins hearing the first of two days of testimony regarding the legality of the ESM and ECB’s OMT program. They already issued an interim decision last September that found no legal reason to prevent the program from going ahead and will not issue any ruling on this case until later in the year.
Eurozone crisis
There is only a small risk that there is a decision ultimately delivered that severely restricts the operation of either program. However, there is heightened headline risk over today and tomorrow as the Eurozone financial crisis debate once again returns to public.
They explained that the German Constitutional Court begins hearing the first of two days of testimony regarding the legality of the ESM and ECB’s OMT program. They already issued an interim decision last September that found no legal reason to prevent the program from going ahead and will not issue any ruling on this case until later in the year.
Eurozone crisis
There is only a small risk that there is a decision ultimately delivered that severely restricts the operation of either program. However, there is heightened headline risk over today and tomorrow as the Eurozone financial crisis debate once again returns to public.