In defense of OMT ahead of Karlsruhe

Next week, the German constitutional court will debate and consider the legality of the European Stability Mechanism (ESM) and the ECB’s Outright Monetary Transaction programme (OMT). In last consequence, the court could force the German government to bring the ECB to the European Court of Justice or, even more dramatically, request Germany to leave the eurozone as the former constitutional court judge Udo di Fabio argued.