Welcome to DU!
The truly grassroots left-of-center political community where regular people, not algorithms, drive the discussions and set the standards.
Join the community:
Create a free account
Support DU (and get rid of ads!):
Become a Star Member
Latest Breaking News
General Discussion
The DU Lounge
All Forums
Issue Forums
Culture Forums
Alliance Forums
Region Forums
Support Forums
Help & Search
ECB's eurozone rescue scheme challenged in Germany
Source: BBC News
The promise by the European Central Bank to do "whatever it takes" to save the euro is being challenged in Germany's constitutional court.
The ECB's vow to buy up the bonds of eurozone countries if they come under severe pressure has been credited with arresting the eurozone crisis.
>
The head of Germany's own central bank is expected to tell the court that the policy breaches Germany's constitution.
Bundesbank President Jens Weidmann believes it is illegal because there is no limit to Germany's spending liability under the scheme, and that it is effectively a back-door way of providing loans to other countries' governments.
Read more: http://www.bbc.co.uk/news/world-europe-22852929
