ZEW President Wambach Describes the Federal Constitutional Court's Decision on OMT as a Wise Middle Course

For the President of the Centre for European Economic Research (ZEW), Achim Wambach, the decision reached today by the Federal Constitutional Court in regard to the ECB's OMT programme constitutes a wise middle course.

"On the one hand, the Court accepts that at the height of the crisis the ECB was forced to adopt such a resolution in order to stabilise markets. On the other hand, the judges emphasise that, if the OMT programme is indeed implemented, the Federal government will have to remain vigilant. This decision has made the scope of the European Central Bank's competencies even clearer."