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EU court adviser says OMT programme in line with EU law so long as certain conditions met
No further details at present hence muted response from euro but a tad lower initially as expectations are that the ruling helps clears the way for QE next week; Rtrs reporting; Update: OMT legitimate so long as there is no direct involvement in financial assistance programme that applies to state in question; ECB must outline its reasons for adopting unconventional measures such as OMT; I can’t that being a problem for Draghi to conjure up; EURUSD lower again at 1.1785 EURGBP 0.7755 EURJPY 137.65; if OMT put into practice implementation must satisfy need for clear and precise descroption of extraordinary ... (full story)
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