The German constitutional court handed the ECB’s OMT program legality baton over to the European Court of Justice and they are due to hold a hearing today.
We’re still far away from an actual decision but the hearing will possibly give an inclination on which way the court will lean. They are likely to highlight questions that they will be looking for answers for when the do sit to chew the fat over the program.
Livesquawk note that it could take up to 16 months to get a decision from the ECJ. The wheels of justice turn slowly in Europe.
