German group slams ECB and claims purchases are ‘subsidy programme’

By Tom Porter
15 Jan 2015

Stiftung Familienunternehmen, an organisation representing family-owned companies in Germany and Europe, has criticised the European Central Bank’s asset backed securities purchase programme, saying it oversteps the bounds of the central bank’s mandate and is designed to help banks in the continent’s weaker economies.

The ECB is widely expected to announce the start of sovereign and perhaps corporate bond buying at its monetary policy meeting next week.

The European Court of Justice is set to deliver a preliminary decision on the legality of the ECB’s 2012 Outright Monetary Transactions programme on Wednesday, ...

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