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OMT Programme is OK, no Eurozone OMG moment (yet)
 Article 
Author
Tim Malloch
Source
Business Shapers
Date
15 January 2015

OMT Programme is OK, no Eurozone OMG moment (yet)

On 14 January, the Advocate General issued a legal opinion that is largely sympathetic to the European Central Bank’s (ECB) Outright Monetary Transaction Programme (OMT Programme).  The European Court of Justice is expected to deliver its judgment on the case later this year.

In July 2012 the ECB President, Mario Draghi said that “the ECB is ready to do whatever it takes to preserve the Euro“. This statement alone restored some confidence in the euro in financial markets. On 6 September 2012, the ECB followed up on this statement by issuing a press release announcing the OMT Programme, an announcement credited with restoring further confidence in the euro in financial markets in 2012.

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