EU lawyer sanctions ECB’s bond buying concept

A TOP European Union (EU) lawyer has said that the European Central Bank’s bond buying programme is legal.

According to Advocate General Cruz Villalon, the ECB’s Outright Monetary Transactions programme is compatible, in principle, with European Union law.

However, he says that if the programme is implemented, its compatibility will depend on certain conditions being met.

The ECB’s programme is designed to buy bonds in the secondary market to stimulate the economy of the eurozone.

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