News Summary: ECB defends bond program

Top ECB official points to risks of killing bond-buying program before German court hearing

Associated Press

A WARNING: European Central Bank executive board member Joerg Asmussen says a German court judgment against the bank's program to buy the bonds of troubled economies could reignite concerns over the future of the euro.

THE HEARING: Germany's Federal Constitutional Court holds a two-day hearing starting Tuesday on the ECB's offer last September to purchase unlimited amounts of government bonds, a policy widely credited for an easing in Europe's debt crisis. It will also consider whether the euro area's rescue fund violates German law.

THE BACKGROUND: The ECB announced the bond buying program last September after bank President Mario Draghi had pledged that the bank was "ready to do whatever it takes to preserve the euro."

Sorry you didn't like this comment. Please provide a reason below.

Are you sure?
Rating failed. Try again.
Request failed. Try again.
We will promote constructive and witty comments to the top, so everyone sees them!
Sorry, we can’t load comments right now. Try again.

    Recommended for You