Press release: ECB’s OMT programme is compatible, in principle, with the TFEU

From europa.eu

By 2010 the international financial crisis that began in 2008 had become a sovereign debt crisis in various States of the euro area. When, in the summer of 2012, investors’ doubts about the continued survival of the euro became increasingly widespread, that prompted apparently unstoppable increases in the risk premia for the government bonds of those States, leading to a critical financial situation. In that exceptional situation, the ability of the European Central Bank (“ECB”) to properly carry out its monetary policy mandate was put at risk. By a press release of 6 September 2012, the ECB announced that a ... (full story)