CASE COMMENTS: REGULATORY - ECB – TITRES SOVEREIGN DEBT BONDS – VALIDITY

Financial markets : The Court of Justice of the European Union decides that the OMT-programme of the ECB is valid (Gauweiler)

*This article is an automatic translation of the original article in French, provided here for your convenience. Read the original article. On 16 June 2015 the Court of Justice declared the ECB's Outright Monetary Transactions (OMT) programme valid. It should be recalled that the MTO programme was announced by the ECB in the summer of 2012 in order to address the sovereign debt crisis affecting the euro area, in particular Spain and Italy. The MTO programme would have consisted of the purchase by the ECB and euro area central banks in the secondary market of sovereign debt securities of euro-area governments under financial assistance. The conditionality is necessary as the programme was never implemented. The ECB's announcement alone was enough to ease speculative tensions on the

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  • University Paris II Panthéon‑Assas

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Francesco Martucci, Financial markets : The Court of Justice of the European Union decides that the OMT-programme of the ECB is valid (Gauweiler), 16 June 2015, Concurrences N° 4-2015, Art. N° 76522, pp. 208-209

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