Reuters exclusively reported that the European Central Bank (ECB) is drafting contingency plans to carry out its multi-trillion bond-buying program without the Bundesbank in case Germanyâ€™s top court forces the main participant in the scheme to quit. In this worst-case scenario, the ECB would launch an unprecedented legal action against the German central bank, its biggest shareholder, to bring it back into the program. The moves would likely mark a moment of truth for the euro, testing Germanyâ€™s commitment to a currency it played the biggest role in creating and forcing it to tackle some deep-seated reservations within the country about ECB policies.
Reuters exclusively reports ECB preparing for life without the Bundesbank
26 May 2020, 12:00 am 1 minute