The awaited meeting of the German high court on the new appeals against the ECB "Omt" program which provides for the subscription of government bonds up to three years on a conditional basis opens tomorrow.
Joerg Asmussen, the German representative of the Executive Committee of the ECB, who will officially represent the central bank before the high court of Karlsruhe believes that calling into question the plan announced last September by Mario Draghi would have "serious consequences".
In an interview with the German newspaper Bild, Asmussen underlines how the ECB is not in the dock. “We have been invited as experts and the occasion will serve to explain the OMT plan once again”. Asmusses also explained why he will go to Karlsruhe and not Mario Draghi: “the ECB has received an invitation addressed to the institution and not to Draghi personally. We evaluated who would be the most suitable person and given that of all the executive directors of the ECB I have the most in-depth knowledge of German constitutional law, the choice fell on me".
