The European Central Bank’s 2012 bond-buying program won the backing of the European Union’s highest court, expanding Mario Draghi’s crisis-fighting arsenal. The EU Court of Justice, in a ruling in Luxembourg Tuesday, said the Outright Monetary Transactions program doesn’t exceed the powers of the ECB in relation to monetary policy. The tribunal said there are some conditions on the plan, which have been met. The court has been examining the OMT program since Germany’s own top court last year sought guidance on the case. The German judges expressed concerns that the yet untapped tool, announced by ECB President ... (full story)