It all is about Quantitative Easing program, possibly. However, not many details have been revealed. News agency Bloomberg has reported Tuesday that three lawsuits have been filed against the European Central Bank in the German constitutional courts.
No hearing has been scheduled yet. It is possibly tied into concerns that the ECB’s bond-buying program violates the rules banning monetary financing within the euro area.
Back in June, German top constitutional judges approved another ECB bond-buying program, called OMT (Outright Monetary Transactions). The program allows it to purchase the debt of a euro area member if it risks being locked out of the financial markets.
